Eisler Capital Management Ltd. Invests $1.82 Million in Asbury Automotive Group, Inc. $ABG

Key Points

• Eisler Capital Management Ltd. acquired 8,217 shares of Asbury Automotive Group, Inc. worth approximately $1.8 million in its latest SEC filing.
• Asbury Automotive reported an EPS of $7.43 for the last quarter, exceeding estimates, despite revenue of $4.37 billion falling short of expectations.
• Analysts have varied price targets for Asbury Automotive, with Bank of America raising its target from $325 to $335, while JPMorgan lowered its target from $225 to $215.

Eisler Capital Management Ltd. acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,217 shares of the company's stock, valued at approximately $1,815,000.

Several other hedge funds also recently made changes to their positions in ABG. Versant Capital Management Inc grew its holdings 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 acquired a new stake in shares of Asbury Automotive Group during the first quarter worth about $49,000. GAMMA Investing LLC boosted its stake in shares of Asbury Automotive Group by 39.2% during the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after buying an additional 165 shares during the period. CWM LLC boosted its stake in shares of Asbury Automotive Group by 7.5% during the first quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after buying an additional 60 shares during the period. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the first quarter worth about $197,000.

Insider Activity

In other news, SVP Jed Milstein sold 1,132 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total transaction of $286,690.32. Following the completion of the sale, the senior vice president directly owned 11,267 shares in the company, valued at approximately $2,853,480.42. This trade represents a 9.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Juanita T. James sold 625 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total transaction of $152,562.50. Following the sale, the director owned 6,855 shares of the company's stock, valued at approximately $1,673,305.50. The trade was a 8.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,157 shares of company stock worth $541,013. Company insiders own 0.53% of the company's stock.

Asbury Automotive Group Stock Performance

NYSE:ABG traded up $1.24 during mid-day trading on Tuesday, reaching $252.78. The stock had a trading volume of 47,153 shares, compared to its average volume of 200,370. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 1.66 and a beta of 0.89. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The business has a 50 day simple moving average of $242.01 and a 200 day simple moving average of $238.08.

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

Analyst Upgrades and Downgrades

ABG has been the subject of several recent research reports. JPMorgan Chase & Co. decreased 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 research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Morgan Stanley increased their target price 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. Bank of America increased 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 note on Monday, June 16th. Finally, Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $254.00.

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.