MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Holdings in Asbury Automotive Group, Inc. $ABG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Asbury Automotive Group by 37.9%, now owning 13,683 shares worth approximately $3.02 million.
• Asbury Automotive Group reported $7.43 EPS for the latest quarter, exceeding estimates but with revenue slightly below expectations at $4.37 billion.
• Analysts have mixed ratings for Asbury Automotive Group with a consensus target price of $249.00, reflecting a range of forecasts from "Buy" to "Sell."

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 37.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,683 shares of the company's stock after selling 8,343 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of Asbury Automotive Group worth $3,022,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ABG. Bank of America Corp DE grew its stake in Asbury Automotive Group by 4.4% in the fourth quarter. Bank of America Corp DE now owns 117,799 shares of the company's stock valued at $28,629,000 after acquiring an additional 4,941 shares during the period. Captrust Financial Advisors grew its stake in Asbury Automotive Group by 68.1% in the fourth quarter. Captrust Financial Advisors now owns 3,425 shares of the company's stock valued at $832,000 after acquiring an additional 1,388 shares during the period. Deutsche Bank AG grew its stake in Asbury Automotive Group by 57.7% in the fourth quarter. Deutsche Bank AG now owns 18,708 shares of the company's stock valued at $4,547,000 after acquiring an additional 6,842 shares during the period. Janus Henderson Group PLC grew its stake in Asbury Automotive Group by 4.9% in the fourth quarter. Janus Henderson Group PLC now owns 10,858 shares of the company's stock valued at $2,640,000 after acquiring an additional 506 shares during the period. Finally, Lazard Asset Management LLC grew its stake in Asbury Automotive Group by 42.1% in the fourth quarter. Lazard Asset Management LLC now owns 4,055 shares of the company's stock valued at $985,000 after acquiring an additional 1,201 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABG. Bank of America dropped their target price on Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Morgan Stanley raised their target price on Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a report on Tuesday, August 5th. Stephens upgraded Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $225.00 to $277.00 in a report on Wednesday, August 13th. Finally, Cfra set a $225.00 target price on Asbury Automotive Group in a report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $249.00.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 1,132 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total value of $286,690.32. Following the completion of the sale, the senior vice president directly owned 11,267 shares of the company's stock, valued at $2,853,480.42. This trade represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Dean Calloway sold 400 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $254.40, for a total value of $101,760.00. Following the completion of the sale, the senior vice president directly owned 5,295 shares of the company's stock, valued at $1,347,048. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,957 shares of company stock valued at $745,501. Corporate insiders own 0.59% of the company's stock.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock traded up $2.52 during mid-day trading on Thursday, reaching $245.34. 120,089 shares of the company's stock were exchanged, compared to its average volume of 126,284. The business's fifty day simple moving average is $241.58 and its 200 day simple moving average is $235.96. The firm has a market capitalization of $4.82 billion, a PE ratio of 8.96, a P/E/G ratio of 1.55 and a beta of 0.89. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, topping analysts' consensus estimates of $6.82 by $0.61. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company posted $6.40 earnings per share. Asbury Automotive Group's quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Asbury Automotive Group Profile

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.