Balyasny Asset Management L.P. Invests $3.58 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Balyasny Asset Management L.P. bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,744 shares of the company's stock, valued at approximately $3,583,000. Balyasny Asset Management L.P. owned 0.08% of Asbury Automotive Group at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABG. 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. Stephens increased their price target 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 cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. 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. reduced their price target 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $258.50.

Asbury Automotive Group Stock Performance

Shares of ABG traded up $1.44 during mid-day trading on Friday, reaching $235.12. The company's stock had a trading volume of 101,739 shares, compared to its average volume of 202,231. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The stock has a market cap of $4.62 billion, a P/E ratio of 10.93 and a beta of 0.98. The business has a 50-day simple moving average of $225.75 and a two-hundred day simple moving average of $249.19. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share (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 business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the business earned $7.21 earnings per share. The business's quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Daniel Clara sold 1,217 shares of the firm'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 directly owns 3,747 shares of the company's stock, valued at $1,111,510.08. This trade represents a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.59% of the company's stock.

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.