Caxton Associates LLP Invests $573,000 in Asbury Automotive Group, Inc. $ABG

Key Points

• Caxton Associates LLP acquired 2,596 shares of Asbury Automotive Group, Inc. ($ABG) valued at approximately $573,000 in the first quarter.
• Insider trading reports indicate that directors Maureen F. Morrison and Juanita T. James sold shares, decreasing their ownership by 12.08% and 8.36% respectively.
• Asbury Automotive Group recently reported $7.43 EPS for the quarter, exceeding analyst expectations, with annual revenue growth of 3.0%.

Caxton Associates LLP acquired a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,596 shares of the company's stock, valued at approximately $573,000.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Asbury Automotive Group by 4.4% in the 4th quarter. Bank of America Corp DE now owns 117,799 shares of the company's stock worth $28,629,000 after buying an additional 4,941 shares during the period. Captrust Financial Advisors raised its holdings in shares of Asbury Automotive Group by 68.1% in the fourth quarter. Captrust Financial Advisors now owns 3,425 shares of the company's stock valued at $832,000 after acquiring an additional 1,388 shares in the last quarter. Deutsche Bank AG lifted its stake in Asbury Automotive Group by 57.7% in the fourth quarter. Deutsche Bank AG now owns 18,708 shares of the company's stock worth $4,547,000 after acquiring an additional 6,842 shares during the period. Janus Henderson Group PLC lifted its stake in Asbury Automotive Group by 4.9% in the fourth quarter. Janus Henderson Group PLC now owns 10,858 shares of the company's stock worth $2,640,000 after acquiring an additional 506 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Asbury Automotive Group by 42.1% during the 4th quarter. Lazard Asset Management LLC now owns 4,055 shares of the company's stock worth $985,000 after acquiring an additional 1,201 shares in the last quarter.

Asbury Automotive Group Stock Performance

Shares of NYSE ABG traded up $3.72 during midday trading on Wednesday, reaching $246.73. 8,671 shares of the stock were exchanged, compared to its average volume of 195,136. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 1.55 and a beta of 0.89. The firm has a 50-day simple moving average of $242.36 and a two-hundred day simple moving average of $236.01. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on ABG shares. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a report on Tuesday, August 5th. 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 report on Thursday, August 14th. Bank of America lowered their target price on Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Cfra set a $225.00 target price on Asbury Automotive Group in a research report on Tuesday, July 29th. Finally, Stephens raised Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Asbury Automotive Group currently has an average rating of "Hold" and a consensus price target of $249.00.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $244.10, for a total value of $152,562.50. Following the transaction, the director owned 6,855 shares in the company, valued at approximately $1,673,305.50. This trade represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Dean Calloway sold 400 shares of Asbury Automotive Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $254.40, for a total transaction of $101,760.00. Following the sale, the senior vice president directly owned 5,295 shares in the company, valued at approximately $1,347,048. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,957 shares of company stock worth $745,501 in the last ninety days. 0.53% of the stock is owned by company insiders.

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.