Magnolia Group LLC Increases Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Magnolia Group LLC lifted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,623 shares of the company's stock after buying an additional 75,500 shares during the period. Asbury Automotive Group comprises about 8.4% of Magnolia Group LLC's holdings, making the stock its 5th largest position. Magnolia Group LLC owned approximately 1.14% of Asbury Automotive Group worth $49,606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ABG. Stephens Inc. AR boosted its position in Asbury Automotive Group by 22.3% in the first quarter. Stephens Inc. AR now owns 1,070 shares of the company's stock worth $236,000 after purchasing an additional 195 shares during the last quarter. Xponance Inc. boosted its position in Asbury Automotive Group by 4.1% in the first quarter. Xponance Inc. now owns 2,123 shares of the company's stock worth $469,000 after purchasing an additional 84 shares during the last quarter. Sage Rhino Capital LLC boosted its position in Asbury Automotive Group by 8.3% in the first quarter. Sage Rhino Capital LLC now owns 966 shares of the company's stock worth $213,000 after purchasing an additional 74 shares during the last quarter. Cerity Partners LLC boosted its position in Asbury Automotive Group by 278.1% in the first quarter. Cerity Partners LLC now owns 19,857 shares of the company's stock worth $4,385,000 after purchasing an additional 14,605 shares during the last quarter. Finally, Bridges Investment Management Inc. boosted its position in Asbury Automotive Group by 119.0% in the first quarter. Bridges Investment Management Inc. now owns 8,641 shares of the company's stock worth $1,908,000 after purchasing an additional 4,695 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded down $0.09 during midday trading on Wednesday, reaching $248.22. 108,566 shares of the company traded hands, compared to its average volume of 196,910. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. The firm's fifty day moving average price is $239.57 and its two-hundred day moving average price is $245.19.

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

Analyst Ratings Changes

Several research firms have weighed in on ABG. Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Bank of America upped their price target 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. Finally, Citigroup started coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $263.50.

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.