GAMMA Investing LLC lifted its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 30,639.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 129,412 shares of the company's stock after acquiring an additional 128,991 shares during the quarter. GAMMA Investing LLC owned approximately 0.66% of Asbury Automotive Group worth $285,790,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in ABG. Dimensional Fund Advisors LP grew its stake in shares of Asbury Automotive Group by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company's stock valued at $269,322,000 after buying an additional 9,688 shares during the last quarter. Eminence Capital LP raised its stake in Asbury Automotive Group by 15.8% during the 4th quarter. Eminence Capital LP now owns 787,775 shares of the company's stock valued at $191,453,000 after buying an additional 107,317 shares during the last quarter. Timucuan Asset Management Inc. FL grew its position in Asbury Automotive Group by 0.5% during the fourth quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company's stock valued at $172,035,000 after buying an additional 3,490 shares during the period. Madison Investment Advisors LLC purchased a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $82,426,000. Finally, Norges Bank purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth $82,079,000.
Asbury Automotive Group Price Performance
NYSE ABG traded down $3.95 on Wednesday, reaching $229.72. 28,346 shares of the stock traded hands, compared to its average volume of 201,132. The firm's fifty day simple moving average is $224.26 and its 200 day simple moving average is $247.24. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 10.68 and a beta of 0.98. 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, April 29th. The company reported $6.82 earnings per share for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company earned $7.21 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have commented on ABG. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Citigroup began coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective for the company. Bank of America initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, May 28th. They issued a "buy" rating and a $325.00 price target on the stock. Stephens upped their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $261.83.
Check Out Our Latest Report on Asbury Automotive Group
About Asbury Automotive Group
(
Free Report)
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.
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