Madison Asset Management LLC Has $60.36 Million Position in Asbury Automotive Group, Inc. $ABG

Madison Asset Management LLC lessened its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 308,875 shares of the company’s stock after selling 37,405 shares during the period. Madison Asset Management LLC owned approximately 1.66% of Asbury Automotive Group worth $60,357,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABG. Norges Bank bought a new position in Asbury Automotive Group in the 4th quarter worth approximately $77,963,000. Thrivent Financial for Lutherans lifted its holdings in shares of Asbury Automotive Group by 106.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock worth $68,842,000 after buying an additional 152,669 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Asbury Automotive Group in the third quarter valued at approximately $32,684,000. Goldman Sachs Group Inc. boosted its position in shares of Asbury Automotive Group by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after acquiring an additional 91,767 shares during the period. Finally, J. Goldman & Co LP acquired a new stake in shares of Asbury Automotive Group in the fourth quarter worth $12,761,000.

Insiders Place Their Bets

In other Asbury Automotive Group news, Director B. Christopher Disantis bought 157 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $182.31 per share, with a total value of $28,622.67. Following the completion of the purchase, the director directly owned 6,400 shares in the company, valued at $1,166,784. The trade was a 2.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of Asbury Automotive Group from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Stephens restated an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Citigroup dropped their price objective on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings cut shares of Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Finally, UBS Group lifted their target price on Asbury Automotive Group from $202.00 to $221.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $233.12.

Asbury Automotive Group Stock Down 4.7%

Shares of ABG stock opened at $209.90 on Tuesday. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $263.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The stock has a fifty day moving average price of $198.25 and a 200 day moving average price of $210.00. The stock has a market cap of $3.91 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the firm earned $6.82 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Analysts predict that Asbury Automotive Group, Inc. will post 25.82 earnings per share for the current year.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.