Denali Advisors LLC Acquires 13,208 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Denali Advisors LLC boosted its stake in Asbury Automotive Group by 164.8% in the fourth quarter, buying 13,208 additional shares and bringing its total to 21,222 shares valued at about $4.9 million.
• Asbury reported mixed quarterly results, posting EPS of $5.37 versus the $5.62 estimate and revenue of $4.11 billion versus expectations of $4.37 billion; revenue was also down 0.9% year over year.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $238, even as some firms adjusted targets and ratings following the earnings release.

Denali Advisors LLC raised its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 164.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,222 shares of the company's stock after buying an additional 13,208 shares during the period. Denali Advisors LLC owned about 0.11% of Asbury Automotive Group worth $4,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Abrams Capital Management L.P. lifted its stake in shares of Asbury Automotive Group by 2.2% in the third quarter. Abrams Capital Management L.P. now owns 2,155,492 shares of the company's stock valued at $526,910,000 after buying an additional 46,952 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Asbury Automotive Group by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,104,168 shares of the company's stock valued at $269,906,000 after buying an additional 5,757 shares in the last quarter. Magnolia Group LLC lifted its stake in shares of Asbury Automotive Group by 18.7% in the third quarter. Magnolia Group LLC now owns 282,623 shares of the company's stock valued at $69,087,000 after buying an additional 44,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Asbury Automotive Group by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company's stock valued at $61,561,000 after buying an additional 91,767 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Asbury Automotive Group by 3.1% in the third quarter. Artisan Partners Limited Partnership now owns 218,028 shares of the company's stock valued at $53,297,000 after buying an additional 6,562 shares in the last quarter.

Insider Transactions at Asbury Automotive Group

In related news, Director B. Christopher Disantis acquired 500 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $202.30 per share, for a total transaction of $101,150.00. Following the completion of the acquisition, the director owned 5,400 shares of the company's stock, valued at approximately $1,092,420. This represents a 10.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.75% of the company's stock.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $199.95 on Friday. Asbury Automotive Group, Inc. has a 52-week low of $184.61 and a 52-week high of $274.50. The company has a 50-day simple moving average of $200.72 and a 200 day simple moving average of $223.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.35 and a current ratio of 0.94. The company has a market capitalization of $3.72 billion, a PE ratio of 7.08, a price-to-earnings-growth ratio of 1.08 and a beta of 0.78.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The company had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter last year, the business posted $6.82 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. On average, research analysts predict that Asbury Automotive Group, Inc. will post 26.23 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on ABG shares. Weiss Ratings downgraded shares of Asbury Automotive Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, April 29th. Barclays increased their target price on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $235.00 to $220.00 and set an "underweight" rating for the company in a report on Thursday. Morgan Stanley set a $220.00 target price on shares of Asbury Automotive Group in a report on Thursday. Finally, Bank of America started coverage on shares of Asbury Automotive Group in a report on Wednesday, March 4th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $238.00.

About Asbury Automotive Group

Asbury Automotive Group, Inc NYSE: ABG is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.

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