GSA Capital Partners LLP Takes $1.54 Million Position in Asbury Automotive Group, Inc. $ABG

Key Points

• GSA Capital Partners opened a new Asbury Automotive Group position worth approximately $1.54 million by purchasing 7,666 shares in the second quarter. Several other institutional investors also increased or initiated holdings.
• Asbury reported quarterly earnings of $6.82 per share, beating consensus estimates of $6.31, while revenue reached $4.38 billion and rose 0.3% year over year.
• ABG shares opened at $210.38, and analysts maintain a consensus “Hold” rating with an average price target of $246.71; targets range from $190 to $265.

GSA Capital Partners LLP purchased a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,666 shares of the company's stock, valued at approximately $1,541,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Asbury Automotive Group by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company's stock valued at $225,977,000 after acquiring an additional 34,104 shares during the period. State Street Corp grew its position in Asbury Automotive Group by 1.2% in the 4th quarter. State Street Corp now owns 781,228 shares of the company's stock worth $181,659,000 after purchasing an additional 9,535 shares during the last quarter. Norges Bank bought a new position in Asbury Automotive Group in the 4th quarter worth about $77,963,000. Thrivent Financial for Lutherans increased its stake in shares of Asbury Automotive Group by 106.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company's stock valued at $68,842,000 after purchasing an additional 152,669 shares during the period. Finally, Magnolia Group LLC increased its stake in shares of Asbury Automotive Group by 3.1% in the first quarter. Magnolia Group LLC now owns 288,004 shares of the company's stock valued at $56,279,000 after purchasing an additional 8,731 shares during the period.

Asbury Automotive Group Stock Down 0.1%

Asbury Automotive Group stock opened at $210.38 on Monday. The firm's 50 day moving average price is $211.21 and its two-hundred day moving average price is $207.01. The firm has a market cap of $3.78 billion, a PE ratio of 7.87, a P/E/G ratio of 0.81 and a beta of 0.71. Asbury Automotive Group, Inc. has a twelve month low of $172.01 and a twelve month high of $263.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts' consensus estimates of $6.31 by $0.51. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. Asbury Automotive Group's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $7.43 earnings per share. On average, research analysts predict that Asbury Automotive Group, Inc. will post 26.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABG has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Asbury Automotive Group from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Barclays raised their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Stephens restated an "overweight" rating and issued a $242.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $220.00 to $190.00 and set an "underweight" rating for the company in a research note on Tuesday, August 4th. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $246.71.

Insider Transactions at Asbury Automotive Group

In other news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. The trade was a 7.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director B. Christopher Disantis purchased 157 shares of the 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 purchase, the director owned 6,400 shares in the company, valued at $1,166,784. This represents a 2.51% increase in their position. The SEC filing for this purchase provides additional information. 0.75% of the stock is owned by company insiders.

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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