Rhumbline Advisers Sells 2,163 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Rhumbline Advisers lowered its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,586 shares of the company's stock after selling 2,163 shares during the quarter. Rhumbline Advisers owned 0.32% of Asbury Automotive Group worth $14,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ABG. CIBC Private Wealth Group LLC increased its holdings in Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after buying an additional 41 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Asbury Automotive Group by 2.0% in the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock valued at $608,000 after purchasing an additional 48 shares during the last quarter. Versant Capital Management Inc raised its holdings in Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after acquiring an additional 50 shares during the period. Mariner LLC increased its stake in shares of Asbury Automotive Group by 3.7% during the fourth quarter. Mariner LLC now owns 1,856 shares of the company's stock worth $451,000 after purchasing an additional 67 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of Asbury Automotive Group by 4.5% during the fourth quarter. HighTower Advisors LLC now owns 1,798 shares of the company's stock worth $437,000 after buying an additional 78 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABG. Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Citigroup started coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective for the company. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Bank of America initiated coverage on Asbury Automotive Group in a report on Wednesday, May 28th. They set a "buy" rating and a $325.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $261.83.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock traded down $3.08 during mid-day trading on Thursday, reaching $239.99. The company had a trading volume of 108,047 shares, compared to its average volume of 200,148. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.72 billion, a P/E ratio of 11.16 and a beta of 0.96. The business has a fifty day simple moving average of $226.18 and a 200 day simple moving average of $246.49.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company posted $7.21 earnings per share. The firm's revenue was down 1.3% on a year-over-year basis. On average, equities research analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

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.