Frontier Capital Management Co. LLC Sells 1,256 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Frontier Capital Management Co. LLC lessened its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,182 shares of the company's stock after selling 1,256 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.87% of Asbury Automotive Group worth $41,359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC acquired a new position in Asbury Automotive Group in the 4th quarter valued at $82,426,000. Norges Bank purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth about $82,079,000. Artisan Partners Limited Partnership acquired a new position in Asbury Automotive Group during the fourth quarter worth about $51,118,000. Eminence Capital LP grew its stake in Asbury Automotive Group by 15.8% during the 4th quarter. Eminence Capital LP now owns 787,775 shares of the company's stock valued at $191,453,000 after acquiring an additional 107,317 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Asbury Automotive Group by 18.9% in the 4th quarter. JPMorgan Chase & Co. now owns 186,306 shares of the company's stock valued at $45,278,000 after acquiring an additional 29,579 shares during the last quarter.

Wall Street Analysts Forecast Growth

ABG has been the topic of several analyst reports. Stephens lifted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Craig Hallum downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Citigroup began coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Asbury Automotive Group presently has an average rating of "Hold" and an average price target of $258.50.

Asbury Automotive Group Stock Down 0.4 %

Shares of Asbury Automotive Group stock traded down $0.87 on Friday, hitting $224.99. 88,095 shares of the company's stock traded hands, compared to its average volume of 203,588. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.42 billion, a P/E ratio of 10.46 and a beta of 0.98. The firm's 50-day moving average is $227.50 and its 200 day moving average is $249.06.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm earned $7.21 earnings per share. The business's revenue was down 1.3% on a year-over-year basis. Equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction that occurred on 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 owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Asbury Automotive Group 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.