LRT Capital Management LLC Sells 5,511 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• LRT Capital Management cut its Asbury Automotive Group stake by 28.8% in the fourth quarter, selling 5,511 shares and leaving it with 13,613 shares worth about $3.17 million.
• Other institutions also adjusted holdings, with Barclays notably increasing its position by 54.1% and several firms adding to stakes in the auto retailer.
• Analysts remain mixed on ABG: the stock has a consensus Hold rating with a $232 average price target, while the company recently reported earnings and revenue below expectations for the quarter.

LRT Capital Management LLC reduced its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,613 shares of the company's stock after selling 5,511 shares during the period. Asbury Automotive Group comprises 2.7% of LRT Capital Management LLC's holdings, making the stock its 6th largest position. LRT Capital Management LLC owned about 0.07% of Asbury Automotive Group worth $3,165,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Eventide Asset Management LLC acquired a new stake in shares of Asbury Automotive Group in the fourth quarter worth approximately $433,000. Barclays PLC boosted its stake in shares of Asbury Automotive Group by 54.1% in the fourth quarter. Barclays PLC now owns 44,378 shares of the company's stock worth $10,319,000 after acquiring an additional 15,589 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Asbury Automotive Group by 27.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 599 shares of the company's stock worth $142,000 after acquiring an additional 129 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Asbury Automotive Group by 7.6% in the fourth quarter. Rafferty Asset Management LLC now owns 1,494 shares of the company's stock worth $347,000 after acquiring an additional 106 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Asbury Automotive Group by 28.6% in the fourth quarter. First Trust Advisors LP now owns 26,581 shares of the company's stock worth $6,181,000 after acquiring an additional 5,919 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stephens reaffirmed an "overweight" rating and issued a $242.00 price target on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. UBS Group assumed coverage on Asbury Automotive Group in a research note on Wednesday, May 27th. They issued a "neutral" rating and a $202.00 price target on the stock. Barclays lifted their price target on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $235.00 to $220.00 and set an "underweight" rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup lowered their price target on Asbury Automotive Group from $260.00 to $212.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 8th. 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 company's stock. According to MarketBeat.com, Asbury Automotive Group has a consensus rating of "Hold" and a consensus price target of $232.00.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $199.29 on Friday. The stock's fifty day moving average is $196.08 and its two-hundred day moving average is $215.98. The firm has a market capitalization of $3.71 billion, a P/E ratio of 7.05, a price-to-earnings-growth ratio of 1.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $274.50.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing analysts' consensus estimates of $5.62 by ($0.25). The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.37 billion. Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $6.82 EPS. On average, research analysts anticipate that Asbury Automotive Group, Inc. will post 25.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director B. Christopher Disantis acquired 157 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $182.31 per share, with a total value of $28,622.67. Following the completion of the purchase, the director owned 6,400 shares of the company's stock, valued at approximately $1,166,784. This represents a 2.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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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