Fox Run Management L.L.C. Purchases Shares of 2,458 Asbury Automotive Group, Inc. $ABG

Key Points

• Fox Run Management L.L.C. invested approximately $543,000 in Asbury Automotive Group, acquiring 2,458 shares in the first quarter.
• Analysts show mixed sentiments on the stock, with target prices ranging from $215.00 to $335.00 and an overall consensus rating of "Hold."
• Asbury Automotive Group reported $7.43 earnings per share for the last quarter, exceeding expectations, though revenue was slightly lower than anticipated at $4.37 billion.

Fox Run Management L.L.C. purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,458 shares of the company's stock, valued at approximately $543,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in shares of Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after buying an additional 50 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Asbury Automotive Group in the 1st quarter worth $49,000. GAMMA Investing LLC boosted its stake in Asbury Automotive Group by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares during the period. Sterling Capital Management LLC boosted its stake in Asbury Automotive Group by 801.4% in the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after purchasing an additional 561 shares during the period. Finally, Brucke Financial Inc. acquired a new position in Asbury Automotive Group in the 4th quarter worth $202,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABG. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research note on Tuesday, August 5th. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. Cfra set a $225.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Finally, Morgan Stanley boosted their price target 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. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $254.00.

Asbury Automotive Group Stock Performance

Shares of ABG stock traded up $13.24 on Friday, reaching $253.38. The stock had a trading volume of 187,133 shares, compared to its average volume of 222,778. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78. The firm's 50-day moving average is $239.97 and its two-hundred day moving average is $240.38. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.68 and a beta of 0.87. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.82 by $0.61. The company had revenue of $4.37 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.40 EPS. On average, research analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Juanita T. James sold 625 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total value of $152,562.50. Following the sale, the director directly owned 6,855 shares of the company's stock, valued at approximately $1,673,305.50. This represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company's stock.

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.