Asbury Automotive Group, Inc. $ABG Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,925 shares of the company's stock after selling 5,464 shares during the quarter. Glenmede Trust Co. NA owned 0.33% of Asbury Automotive Group worth $11,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Asbury Automotive Group during the fourth quarter worth about $77,963,000. Thrivent Financial for Lutherans increased its holdings in Asbury Automotive Group by 106.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company's stock valued at $68,842,000 after buying an additional 152,669 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Asbury Automotive Group during the 3rd quarter valued at approximately $32,684,000. Goldman Sachs Group Inc. boosted its stake in shares of Asbury Automotive Group by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company's stock worth $61,561,000 after acquiring an additional 91,767 shares in the last quarter. Finally, J. Goldman & Co LP acquired a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $12,761,000.

Asbury Automotive Group Trading Down 0.1%

Shares of Asbury Automotive Group stock opened at $231.40 on Monday. Asbury Automotive Group, Inc. has a 1 year low of $172.01 and a 1 year high of $263.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The business has a 50 day moving average price of $206.23 and a 200 day moving average price of $209.19. The company has a market capitalization of $4.31 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.89 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, beating analysts' consensus estimates of $6.31 by $0.51. The firm had revenue of $4.38 billion for the quarter, compared to analysts' expectations of $4.49 billion. Asbury Automotive Group had a return on equity of 12.74% and a net margin of 2.83%.Asbury Automotive Group's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.43 EPS. Sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABG shares. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $235.00 to $220.00 and set an "underweight" rating for the company in a report on Thursday, May 7th. Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a report on Thursday, May 7th. Barclays lifted their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup boosted their price objective on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Asbury Automotive Group in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Asbury Automotive Group currently has an average rating of "Hold" and an average price target of $249.57.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director B. Christopher Disantis acquired 157 shares of Asbury Automotive Group stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the completion of the transaction, the director directly owned 6,400 shares of the company's stock, valued at $1,166,784. The trade was a 2.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jed Milstein sold 948 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the sale, the senior vice president directly owned 11,259 shares in the company, valued at approximately $2,817,902.52. The trade was a 7.77% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc NYSE: ABG is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.

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