Fieldview Capital Management LLC Invests $3.34 Million in Asbury Automotive Group, Inc. $ABG

Key Points

• Fieldview Capital Management disclosed a new position in Asbury Automotive Group, buying 14,347 shares worth about $3.34 million in the fourth quarter, giving it 0.07% ownership.
• Several other institutional investors also adjusted their stakes, with firms like Bogart Wealth, the State of Alaska Department of Revenue, and CIBC Asset Management all increasing holdings in ABG.
• Analysts remain cautious overall: the stock carries an average “Hold” rating and a $232 average price target, while the company also reported Q1 earnings and revenue below estimates.

Fieldview Capital Management LLC acquired a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,347 shares of the company's stock, valued at approximately $3,336,000. Fieldview Capital Management LLC owned 0.07% of Asbury Automotive Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company's stock worth $30,000 after acquiring an additional 44 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Asbury Automotive Group by 0.4% in the 4th quarter. State of Alaska Department of Revenue now owns 10,983 shares of the company's stock worth $2,553,000 after acquiring an additional 47 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Asbury Automotive Group by 2.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,937 shares of the company's stock worth $450,000 after acquiring an additional 50 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Asbury Automotive Group by 1.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,130 shares of the company's stock worth $731,000 after acquiring an additional 54 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Asbury Automotive Group by 69.2% in the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock worth $31,000 after acquiring an additional 54 shares in the last quarter.

Analyst Ratings Changes

ABG has been the subject of several analyst reports. Barclays increased their target price on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. cut their price objective 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, May 7th. UBS Group started coverage on shares of Asbury Automotive Group in a report on Wednesday, May 27th. They set a "neutral" rating and a $202.00 price objective for the company. Morgan Stanley set a $220.00 price objective on shares of Asbury Automotive Group in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Asbury Automotive Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $232.00.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis bought 157 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $182.31 per share, with a total value of $28,622.67. Following the completion of the acquisition, the director owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.75% of the company's stock.

Asbury Automotive Group Trading Down 0.1%

ABG stock opened at $199.29 on Friday. The firm has a fifty day moving average price of $196.08 and a 200 day moving average price of $215.98. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $274.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94. The firm has a market cap of $3.71 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 1.10 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing analysts' consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The business had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.37 billion. During the same period last year, the business posted $6.82 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 25.68 earnings per share for the current fiscal year.

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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