Hsbc Holdings PLC Takes $1.10 Million Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Hsbc Holdings PLC acquired a new stake in Asbury Automotive Group by purchasing 5,017 shares valued at approximately $1,096,000 in the first quarter.
• Insider activity saw Director Juanita T. James selling 625 shares, resulting in a 8.36% decrease in ownership, while Senior VP Dean Calloway sold 400 shares, representing a 7.02% decline.
• Asbury Automotive Group's stock trading has experienced a 2.6% decline, with current trading values around $251.46 and an annual price range between $201.68 and $312.56.

Hsbc Holdings PLC acquired a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,017 shares of the company's stock, valued at approximately $1,096,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after acquiring an additional 50 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Asbury Automotive Group in the first quarter worth $49,000. GAMMA Investing LLC lifted its stake in Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after acquiring an additional 165 shares during the period. Brucke Financial Inc. purchased a new stake in Asbury Automotive Group in the fourth quarter worth $202,000. Finally, CWM LLC lifted its stake in Asbury Automotive Group by 7.5% in the first quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after acquiring an additional 60 shares during the period.

Insiders Place Their Bets

In other Asbury Automotive Group news, SVP Dean Calloway sold 400 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $254.40, for a total transaction of $101,760.00. Following the completion of the sale, the senior vice president directly owned 5,295 shares in the company, valued at $1,347,048. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maureen F. Morrison sold 800 shares of Asbury Automotive Group stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $255.61, for a total value of $204,488.00. Following the transaction, the director directly owned 5,824 shares in the company, valued at approximately $1,488,672.64. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,957 shares of company stock valued at $745,501 over the last quarter. Corporate insiders own 0.53% of the company's stock.

Asbury Automotive Group Stock Up 0.7%

Shares of NYSE:ABG traded up $1.87 on Thursday, hitting $255.55. 12,890 shares of the company traded hands, compared to its average volume of 199,244. 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 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $242.41 and a 200-day simple moving average of $238.29. The company has a market cap of $5.02 billion, a PE ratio of 9.33, a PEG ratio of 1.66 and a beta of 0.89.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 EPS 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 during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company earned $6.40 EPS. Asbury Automotive Group's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Cfra set a $225.00 price target on Asbury Automotive Group in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lowered their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research report on Tuesday, August 5th. Stephens raised Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $225.00 to $277.00 in a research report on Wednesday, August 13th. Morgan Stanley raised their price objective on Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Finally, Bank of America raised their price objective on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $254.00.

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.