Allspring Global Investments Holdings LLC Purchases New Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Allspring Global Investments Holdings LLC acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,164 shares of the company's stock, valued at approximately $262,000.

Other hedge funds and other institutional investors 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 in the 4th quarter valued at $25,000. Versant Capital Management Inc increased its stake in Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after buying an additional 50 shares during the period. CIBC Private Wealth Group LLC increased its stake in Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after buying an additional 41 shares during the period. GAMMA Investing LLC increased its stake in Asbury Automotive Group by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock valued at $129,000 after buying an additional 165 shares during the period. Finally, Headlands Technologies LLC increased its stake in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after buying an additional 443 shares during the period.

Asbury Automotive Group Trading Down 1.2%

NYSE:ABG traded down $3.22 on Friday, reaching $262.75. The stock had a trading volume of 92,103 shares, compared to its average volume of 197,947. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.70 and a beta of 0.96. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 0.55. The firm's fifty day moving average is $237.55 and its two-hundred day moving average is $245.04. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. The company had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the company earned $7.21 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. Equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABG shares. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Citigroup began coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective on the stock. Bank of America increased 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. Finally, Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group has a consensus rating of "Hold" and an average price target of $263.50.

Asbury Automotive Group 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.