MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 1,989 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,026 shares of the company's stock after acquiring an additional 1,989 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.11% of Asbury Automotive Group worth $5,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GoodHaven Capital Management LLC bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $2,916,000. Magnolia Group LLC boosted its position in Asbury Automotive Group by 2.1% in the 4th quarter. Magnolia Group LLC now owns 149,123 shares of the company's stock valued at $36,241,000 after buying an additional 3,000 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Asbury Automotive Group by 52.3% in the 4th quarter. Intech Investment Management LLC now owns 7,805 shares of the company's stock valued at $1,897,000 after buying an additional 2,680 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Asbury Automotive Group during the fourth quarter worth $221,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Asbury Automotive Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock valued at $51,465,000 after acquiring an additional 3,273 shares during the period.

Insider Buying and Selling

In other news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.59% of the stock is currently owned by company insiders.

Asbury Automotive Group Stock Up 0.6%

Shares of NYSE ABG opened at $235.12 on Monday. The stock has a market cap of $4.62 billion, a P/E ratio of 10.93 and a beta of 0.98. The firm has a 50 day moving average price of $225.75 and a 200 day moving average price of $249.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted 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 quarter last year, the business posted $7.21 earnings per share. The company's revenue for the quarter was down 1.3% on a year-over-year basis. Analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Citigroup began coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target for the company. Stephens raised their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. StockNews.com raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Asbury Automotive Group has an average rating of "Hold" and a consensus target price of $258.50.

About Asbury Automotive Group

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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