Asbury Automotive Group (NYSE:ABG) SVP Sells $101,760.00 in Stock

Key Points

• Asbury Automotive Group's SVP Dean Calloway sold 400 shares at an average price of $254.40, totaling $101,760.00, reducing his ownership by 7.02%.
• The company reported earnings of $7.43 EPS for the last quarter, surpassing estimates, but revenue was below expectations at $4.37 billion.
• Recent analyst ratings indicate mixed opinions, with two ratings for "Buy," four for "Hold," and one for "Sell," and an average target price of $254.00.

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) SVP Dean Calloway sold 400 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the transaction, the senior vice president directly owned 5,295 shares in the company, valued at approximately $1,347,048. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Asbury Automotive Group Trading Down 0.4%

Asbury Automotive Group stock traded down $1.0250 during mid-day trading on Monday, reaching $252.7950. 133,449 shares of the company traded hands, compared to its average volume of 202,303. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.30 and a quick ratio of 0.49. The firm's 50 day moving average price is $239.97 and its 200 day moving average price is $239.95. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 1.68 and a beta of 0.87. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.82 by $0.61. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.40 EPS. On average, analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABG. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 5th. Bank of America upped their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Asbury Automotive Group has an average rating of "Hold" and an average price target of $254.00.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in Asbury Automotive Group by 43.9% during the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after acquiring an additional 50 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Asbury Automotive Group during the 1st quarter valued at about $49,000. Northwestern Mutual Wealth Management Co. lifted its stake in Asbury Automotive Group by 64.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company's stock valued at $49,000 after acquiring an additional 81 shares during the period. eCIO Inc. bought a new position in Asbury Automotive Group during the 1st quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Asbury Automotive Group by 104.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company's stock valued at $80,000 after acquiring an additional 172 shares during the period.

About Asbury Automotive Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.