Brandywine Global Investment Management LLC Raises Stock Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Brandywine Global Investment Management LLC increased its stake in Asbury Automotive Group by 4.7%, owning 71,354 shares worth approximately $15.76 million after acquiring 3,183 additional shares.
• Asbury Automotive Group's stock price has seen a 0.6% decrease recently, with a current trading value of $240.64 and a market capitalization of $4.73 billion.
• The company reported an EPS of $7.43 for its latest quarter, exceeding analysts' expectations, while revenue was $4.37 billion, slightly below forecasts.

Brandywine Global Investment Management LLC boosted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,354 shares of the company's stock after purchasing an additional 3,183 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.36% of Asbury Automotive Group worth $15,758,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in Asbury Automotive Group by 43.9% during the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after purchasing an additional 50 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Asbury Automotive Group during the 1st quarter worth approximately $49,000. GAMMA Investing LLC grew its position in Asbury Automotive Group by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares during the last quarter. Sterling Capital Management LLC grew its position in Asbury Automotive Group by 801.4% during the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after purchasing an additional 561 shares during the last quarter. Finally, CWM LLC lifted its stake in Asbury Automotive Group by 7.5% during the 1st quarter. CWM LLC now owns 858 shares of the company's stock valued at $189,000 after acquiring an additional 60 shares during the period.

Asbury Automotive Group Stock Performance

Shares of ABG traded down $4.58 during trading hours on Wednesday, hitting $240.51. The stock had a trading volume of 54,604 shares, compared to its average volume of 202,894. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. The firm has a 50-day moving average price of $239.60 and a 200 day moving average price of $241.46. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 1.59 and a beta of 0.87.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.44 billion. During the same period in the previous year, the business posted $6.40 EPS. The business's revenue was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on ABG shares. Citigroup started coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective for the company. 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. 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. Cfra set a $225.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. Finally, Stephens upgraded shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $225.00 to $277.00 in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $254.00.

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.