Jefferies Financial Group Inc. Takes $1.23 Million Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Jefferies Financial Group acquired a new 6,122-share stake in Asbury Automotive Group valued at approximately $1.23 million, while several other institutional investors also adjusted their positions.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $246.71; ratings include two Buys, six Holds, and one Sell.
• Asbury exceeded quarterly earnings expectations, reporting $6.82 EPS versus the $6.31 consensus, although revenue of $4.38 billion fell short of estimates. Shares opened at $212.40, and an executive recently sold $237,265 worth of stock.

Jefferies Financial Group Inc. bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,122 shares of the company's stock, valued at approximately $1,231,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in Asbury Automotive Group in the 4th quarter valued at approximately $25,000. Quarry LP raised its stake in shares of Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company's stock valued at $27,000 after purchasing an additional 83 shares in the last quarter. Osaic Holdings Inc. raised its stake 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 valued at $31,000 after purchasing an additional 54 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Asbury Automotive Group by 76.5% in the fourth quarter. Farther Finance Advisors LLC now owns 143 shares of the company's stock worth $33,000 after purchasing an additional 62 shares during the period. Finally, Global Retirement Partners LLC bought a new position in Asbury Automotive Group in the second quarter worth $34,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABG shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Stephens reaffirmed an "overweight" rating and set a $242.00 price objective on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. UBS Group set a $250.00 target price on shares of Asbury Automotive Group in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $220.00 to $190.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 4th. Finally, Citigroup increased their price target on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $246.71.

Insider Buying and Selling at Asbury Automotive Group

In other news, SVP Jed Milstein sold 948 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the sale, the senior vice president owned 11,259 shares of the company's stock, valued at approximately $2,817,902.52. This represents a 7.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.75% of the company's stock.

Asbury Automotive Group Price Performance

Shares of ABG stock opened at $212.40 on Monday. The stock's fifty day simple moving average is $214.02 and its 200 day simple moving average is $205.49. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $262.67. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 0.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29.

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

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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