Silvercrest Asset Management Group LLC Sells 11,120 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Silvercrest Asset Management Group LLC decreased its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,267 shares of the company's stock after selling 11,120 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.93% of Asbury Automotive Group worth $44,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABG. Aster Capital Management DIFC Ltd purchased a new stake in Asbury Automotive Group in the fourth quarter worth $25,000. CIBC Private Wealth Group LLC lifted its position in Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after buying an additional 41 shares during the period. Smartleaf Asset Management LLC lifted its position in Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock valued at $122,000 after buying an additional 351 shares during the period. Headlands Technologies LLC lifted its position in Asbury Automotive Group by 275.2% during the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after buying an additional 443 shares during the period. Finally, Sterling Capital Management LLC lifted its position in Asbury Automotive Group by 801.4% during the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after buying an additional 561 shares during the period.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABG. Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Citigroup began coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective for the company. StockNews.com raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Asbury Automotive Group presently has a consensus rating of "Hold" and a consensus target price of $258.50.

Asbury Automotive Group Stock Down 0.6%

Shares of ABG traded down $1.43 during trading hours on Monday, hitting $233.64. The company had a trading volume of 91,983 shares, compared to its average volume of 201,790. The firm has a fifty day moving average price of $225.56 and a 200-day moving average price of $249.38. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 10.86 and a beta of 0.98. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the business posted $7.21 earnings per share. Asbury Automotive Group's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.