Asbury Automotive Group (NYSE:ABG) SVP Sells $286,690.32 in Stock

Key Points

• Asbury Automotive Group's SVP, Jed Milstein, sold 1,132 shares for a total of $286,690.32, reducing his position by 9.13% to 11,267 shares valued at approximately $2.85 million.
• The company's stock has a market cap of $4.97 billion and is currently trading at around $252.80, down 0.4% during midday trading.
• Analyst ratings for Asbury Automotive Group include a mix of "Buy," "Hold," and "Sell" ratings, with a consensus target price of $254.00.

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) SVP Jed Milstein sold 1,132 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total value of $286,690.32. Following the transaction, the senior vice president directly owned 11,267 shares of the company's stock, valued at $2,853,480.42. The trade was a 9.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Asbury Automotive Group Trading Down 0.4%

Shares of NYSE ABG traded down $1.0250 during midday trading on Monday, hitting $252.7950. 133,449 shares of the company traded hands, compared to its average volume of 202,303. The firm has a market cap of $4.97 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.68 and a beta of 0.87. The stock has a 50-day moving average price of $239.97 and a 200 day moving average price of $239.95. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, topping the consensus estimate of $6.82 by $0.61. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the business posted $6.40 EPS. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABG has been the topic of several recent analyst reports. Bank of America increased their target price on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Stephens raised Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $225.00 to $277.00 in a report on Wednesday, August 13th. Morgan Stanley boosted their price target on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Cfra set a $225.00 target price on Asbury Automotive Group in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $254.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its position in shares of Asbury Automotive Group by 43.9% during the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after purchasing an additional 50 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Asbury Automotive Group in the 1st quarter worth about $49,000. Northwestern Mutual Wealth Management Co. grew its stake in Asbury Automotive Group by 64.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company's stock worth $49,000 after acquiring an additional 81 shares in the last quarter. eCIO Inc. bought a new stake in shares of Asbury Automotive Group during the first quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 104.2% in the second quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company's stock valued at $80,000 after purchasing 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.

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