Asbury Automotive Group, Inc. $ABG Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Asbury Automotive Group by 195.2% during the first quarter, owning a total of 11,040 shares valued at approximately $2.44 million.
• Asbury Automotive Group reported $7.43 EPS for the last quarter, surpassing the consensus estimate of $6.82, with a revenue of $4.37 billion.
• Equity analysts have mixed ratings on Asbury Automotive Group, with an average price target of $254.00, and two analysts rating the stock as a Buy.

Algert Global LLC increased its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 195.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,040 shares of the company's stock after acquiring an additional 7,300 shares during the period. Algert Global LLC owned approximately 0.06% of Asbury Automotive Group worth $2,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in shares of Asbury Automotive Group by 1.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,279 shares of the company's stock worth $2,984,000 after buying an additional 173 shares during the last quarter. Mariner LLC boosted its position in shares of Asbury Automotive Group by 3.7% during the 4th quarter. Mariner LLC now owns 1,856 shares of the company's stock worth $451,000 after purchasing an additional 67 shares during the period. XTX Topco Ltd purchased a new position in Asbury Automotive Group in the 4th quarter valued at approximately $247,000. Jump Financial LLC purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth $680,000. Finally, MetLife Investment Management LLC lifted its position in shares of Asbury Automotive Group by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 11,802 shares of the company's stock worth $2,868,000 after purchasing an additional 337 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on ABG. Bank of America lifted their price objective on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Cfra set a $225.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. Morgan Stanley lifted their price objective on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 5th. Finally, 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. 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. Based on data from MarketBeat, Asbury Automotive Group presently has a consensus rating of "Hold" and an average price target of $254.00.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of the stock in a transaction 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 directly owned 6,855 shares of the company's stock, valued at approximately $1,673,305.50. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.59% of the company's stock.

Asbury Automotive Group Stock Down 0.1%

NYSE ABG traded down $0.2650 during trading hours on Monday, reaching $253.5550. 67,614 shares of the company traded hands, compared to its average volume of 201,883. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $4.99 billion, a PE ratio of 9.27, a PEG ratio of 1.68 and a beta of 0.87. The company has a 50 day moving average of $239.97 and a two-hundred day moving average of $239.95.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the firm posted $6.40 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

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.