Cubist Systematic Strategies LLC Invests $5.21 Million in Asbury Automotive Group, Inc. $ABG

Key Points

• Cubist Systematic Strategies LLC has invested approximately $5.21 million in Asbury Automotive Group, acquiring 23,600 shares during the first quarter.
• Insider transactions were noted, with Director Juanita T. James selling 625 shares for about $152,562.50, reflecting an 8.36% decrease in her ownership.
• Analysts have mixed ratings on Asbury Automotive Group, with a consensus rating of "Hold" and an average target price of $254.00.

Cubist Systematic Strategies LLC bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,600 shares of the company's stock, valued at approximately $5,212,000. Cubist Systematic Strategies LLC owned about 0.12% of Asbury Automotive Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Asbury Automotive Group during the first quarter worth $262,000. New York State Teachers Retirement System lifted its position in shares of Asbury Automotive Group by 13.7% during the first quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock worth $3,279,000 after purchasing an additional 1,787 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 165 shares during the last quarter. TD Asset Management Inc bought a new stake in shares of Asbury Automotive Group in the first quarter valued at about $6,037,000. Finally, SG Americas Securities LLC bought a new stake in shares of Asbury Automotive Group in the first quarter valued at about $1,111,000.

Insider Buying and Selling

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of Asbury Automotive Group stock in a transaction dated 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 $1,673,305.50. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dean Calloway sold 400 shares of Asbury Automotive Group stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $254.40, for a total value of $101,760.00. Following the completion of the transaction, the senior vice president owned 5,295 shares in the company, valued at $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 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on ABG shares. Cfra set a $225.00 price objective on Asbury Automotive Group in a report on Tuesday, July 29th. Stephens upgraded 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 report on Wednesday, August 13th. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a report on Tuesday, August 5th. Bank of America lifted their price objective on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Morgan Stanley lifted their price objective on Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Asbury Automotive Group has a consensus rating of "Hold" and an average target price of $254.00.

Asbury Automotive Group Price Performance

ABG opened at $253.46 on Thursday. The business's 50-day moving average is $242.41 and its two-hundred day moving average is $238.29. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. 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 capitalization of $4.98 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

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 return on equity of 15.41% and a net margin of 3.13%.The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the firm earned $6.40 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ABG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Asbury Automotive Group, Inc. (NYSE:ABG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.