Jupiter Topco LLC Takes $1.64 Million Position in Asbury Automotive Group, Inc. $ABG

Jupiter Topco LLC acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,128 shares of the company's stock, valued at approximately $1,635,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABG. CIBC Asset Management Inc increased its holdings in Asbury Automotive Group by 2.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,937 shares of the company's stock valued at $450,000 after purchasing an additional 50 shares in the last quarter. Osaic Holdings Inc. increased 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 buying an additional 54 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Asbury Automotive Group by 76.5% in the fourth quarter. Farther Finance Advisors LLC now owns 143 shares of the company's stock valued at $33,000 after buying an additional 62 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Asbury Automotive Group by 0.8% in the second quarter. Lazard Asset Management LLC now owns 9,375 shares of the company's stock valued at $2,236,000 after purchasing an additional 71 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Asbury Automotive Group by 2.0% in the 4th quarter. ProShare Advisors LLC now owns 3,777 shares of the company's stock valued at $878,000 after buying an additional 74 shares during the last quarter.

Asbury Automotive Group Stock Performance

ABG stock opened at $216.92 on Friday. Asbury Automotive Group, Inc. has a 12-month low of $172.01 and a 12-month high of $262.67. The stock's 50 day simple moving average is $215.12 and its 200 day simple moving average is $205.04. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $3.89 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.71.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup increased their price target on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $220.00 to $190.00 and set an "underweight" rating for the company in a report on Tuesday, August 4th. Barclays boosted their target price on Asbury Automotive Group from $225.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 29th. Morgan Stanley raised their price target on shares of 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. Finally, UBS Group set a $250.00 price target on shares of Asbury Automotive Group in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $246.71.

Insiders Place Their Bets

In other Asbury Automotive Group news, SVP Jed Milstein sold 948 shares of the stock in a transaction dated Wednesday, July 29th. The shares were 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 of the company's stock, valued at approximately $2,817,902.52. This represents a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company's stock.

Asbury Automotive Group 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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