Edgestream Partners L.P. Grows Stock Holdings in Asbury Automotive Group, Inc. $ABG

Key Points

• Edgestream Partners increased its Asbury Automotive Group stake by 10.2% in the first quarter, adding 4,936 shares to own 53,267 shares valued at approximately $10.4 million.
• Asbury reported adjusted EPS of $6.82, beating the $6.31 consensus, but revenue of $4.38 billion missed estimates and GAAP net income and EPS declined year over year. The company also repurchased about $131 million of stock during the quarter.
• ABG shares opened at $247.84, near the $244.14 analyst consensus target, while coverage remains mixed: two Buy ratings, six Holds and one Sell, for an overall Hold consensus.

Edgestream Partners L.P. increased its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 53,267 shares of the company's stock after buying an additional 4,936 shares during the period. Edgestream Partners L.P. owned about 0.29% of Asbury Automotive Group worth $10,409,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in Asbury Automotive Group during the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new position in Asbury Automotive Group in the 4th quarter worth approximately $27,000. Quarry LP boosted its stake in Asbury Automotive Group by 319.2% in the 3rd quarter. Quarry LP now owns 109 shares of the company's stock worth $27,000 after purchasing an additional 83 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company's stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock worth $31,000 after buying an additional 54 shares in the last quarter.

Asbury Automotive Group Price Performance

NYSE:ABG opened at $247.84 on Thursday. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The business has a 50 day simple moving average of $204.37 and a 200-day simple moving average of $209.48. Asbury Automotive Group, Inc. has a 1 year low of $172.01 and a 1 year high of $263.38.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, beating the consensus estimate of $6.31 by $0.51. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.49 billion. Asbury Automotive Group had a return on equity of 12.74% and a net margin of 2.83%.Asbury Automotive Group's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.43 EPS. Equities analysts forecast that Asbury Automotive Group, Inc. will post 26.4 EPS for the current year.

Trending Headlines about Asbury Automotive Group

Here are the key news stories impacting Asbury Automotive Group this week:

• Positive Sentiment: Adjusted earnings were $6.82 per share, above the $6.31 analyst consensus. Used-vehicle gains helped offset weaker new-vehicle margins, with used retail gross profit per unit rising 16% to $2,002. ABG Q2 Earnings Beat on Used-Vehicle Gains, Revenues Miss
• Positive Sentiment: Asbury repurchased approximately 668,000 shares for $131 million during the quarter. The buybacks can support per-share earnings and contributed to investor optimism about the company’s valuation and capital-allocation strategy. Asbury Automotive Group Is Up After Q2 Beat and Aggressive Buybacks
• Positive Sentiment: Gross profit reached approximately $753 million, while liquidity stood at $966 million at quarter-end. Management also reported that 70% of stores had converted to the Tekion platform, indicating continued progress on its technology rollout. Asbury Automotive Q2 Revenue Reaches $4.4 Billion as Net Income Falls
• Neutral Sentiment: Investor commentary is divided: some analysts view the solid quarter and buybacks as evidence that ABG remains undervalued, while others question whether the recent rally has already reflected the earnings improvement. Asbury Automotive: Solid Q2 Leaves Shares Meaningfully Undervalued
• Negative Sentiment: Revenue of approximately $4.38 billion fell short of the $4.49 billion consensus and increased only 0.3% year over year. GAAP net income declined to about $115 million from $153 million, while diluted GAAP EPS fell to $6.25 from $7.76 in the prior-year quarter. Asbury Automotive Group Quarterly Earnings Results

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis bought 157 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $182.31 per share, for a total transaction of $28,622.67. Following the acquisition, the director owned 6,400 shares of the company's stock, valued at $1,166,784. The trade was a 2.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ABG shares. Morgan Stanley set a $220.00 price target on shares of Asbury Automotive Group in a report on Thursday, May 7th. Stephens reaffirmed an "overweight" rating and issued a $242.00 target price on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Citigroup decreased their target price on Asbury Automotive Group from $260.00 to $212.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $235.00 to $220.00 and set an "underweight" rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Asbury Automotive Group presently has an average rating of "Hold" and a consensus target price of $244.14.

Asbury Automotive Group Company Profile

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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