Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,882 shares of the company's stock after selling 6,988 shares during the period. Bank of New York Mellon Corp owned about 0.80% of Asbury Automotive Group worth $34,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Asbury Automotive Group in the first quarter valued at approximately $262,000. New York State Teachers Retirement System lifted its stake in Asbury Automotive Group by 13.7% in the 1st quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock valued at $3,279,000 after buying an additional 1,787 shares in the last quarter. GAMMA Investing LLC increased its position in 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 in the last quarter. GoodHaven Capital Management LLC purchased a new position in Asbury Automotive Group during the fourth quarter worth $2,916,000. Finally, SG Americas Securities LLC acquired a new position in shares of Asbury Automotive Group in the first quarter worth $1,111,000.

Asbury Automotive Group Trading Up 0.1%

Shares of NYSE ABG traded up $0.15 on Friday, reaching $229.67. 175,240 shares of the company traded hands, compared to its average volume of 197,168. The stock has a market capitalization of $4.52 billion, a PE ratio of 10.93, a P/E/G ratio of 1.48 and a beta of 0.96. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average of $239.74 and a 200 day moving average of $245.01.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results 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). The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.31 billion. Asbury Automotive Group had a net margin of 2.42% and a return on equity of 15.41%. Asbury Automotive Group's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.21 earnings per share. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ABG shares. 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 objective for the company. JPMorgan Chase & Co. downgraded shares of Asbury Automotive Group from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $235.00 to $225.00 in a report on Thursday. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Bank of America raised 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 report on Monday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $259.33.

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.