Asbury Automotive Group, Inc. $ABG Shares Sold by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC has reduced its stake in Asbury Automotive Group by 2.6%, holding 262,545 shares worth approximately $57.98 million after selling 6,990 shares.
• Asbury Automotive Group reported $7.43 EPS for its recent quarter, exceeding estimates, but had revenue of $4.37 billion, slightly below the consensus estimate.
• Analysts show mixed sentiments towards Asbury Automotive Group, with price objectives ranging from $215.00 to $335.00 and a consensus rating of "Hold."

Channing Capital Management LLC cut its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,545 shares of the company's stock after selling 6,990 shares during the quarter. Channing Capital Management LLC owned approximately 1.34% of Asbury Automotive Group worth $57,980,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc grew its position in shares of Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Asbury Automotive Group in the first quarter valued at approximately $49,000. GAMMA Investing LLC boosted 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 acquiring an additional 165 shares during the last quarter. Brucke Financial Inc. acquired a new stake in Asbury Automotive Group during the fourth quarter worth approximately $202,000. Finally, CWM LLC boosted its position in Asbury Automotive Group by 7.5% during the first quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after acquiring an additional 60 shares during the last quarter.

Insiders Place Their Bets

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total transaction of $152,562.50. Following the transaction, the director owned 6,855 shares of the company's stock, valued at $1,673,305.50. This trade represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Trading Up 5.5%

NYSE:ABG traded up $13.24 during trading hours on Friday, reaching $253.38. 187,133 shares of the company were exchanged, compared to its average volume of 222,778. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.30 and a quick ratio of 0.49. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.68 and a beta of 0.87. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The stock has a 50 day simple moving average of $239.97 and a 200 day simple moving average of $240.38.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, topping analysts' consensus estimates of $6.82 by $0.61. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. Asbury Automotive Group's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.40 earnings per share. As a group, analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley raised their target price on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. decreased their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 5th. 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. Finally, Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.