Robotti Robert Takes Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Robotti Robert acquired a new stake in Asbury Automotive Group, purchasing 20,270 shares valued at approximately $4.48 million, making it his 23rd largest position in his portfolio.
• Multiple large investors have increased or acquired stakes in Asbury Automotive Group, including Versant Capital Management Inc, which raised its stake by 43.9% in the first quarter.
• Wall Street analysts have mixed views on the company's performance, with some raising their price targets and ratings, while others have set lower targets, reflecting a consensus rating of "Hold" and an average price target of $255.43.

Robotti Robert acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,270 shares of the company's stock, valued at approximately $4,476,000. Asbury Automotive Group makes up approximately 0.9% of Robotti Robert's investment portfolio, making the stock its 23rd largest position. Robotti Robert owned about 0.10% of Asbury Automotive Group as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of Asbury Automotive Group by 43.9% during the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $49,000. GAMMA Investing LLC increased its stake in shares of Asbury Automotive Group by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Asbury Automotive Group by 801.4% during the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after purchasing an additional 561 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Asbury Automotive Group by 7.5% during the 1st quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after purchasing an additional 60 shares in the last quarter.

Asbury Automotive Group Trading Up 0.9%

Shares of ABG traded up $2.1150 during mid-day trading on Tuesday, reaching $242.5550. The company had a trading volume of 25,307 shares, compared to its average volume of 203,066. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. The firm has a fifty day simple moving average of $239.59 and a 200-day simple moving average of $241.44. 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 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

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

Analyst Ratings Changes

A number of analysts recently issued reports on ABG shares. Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Morgan Stanley raised their target price on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Bank of America raised their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup started coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price on the stock. Finally, Stephens upgraded shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $254.00.

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.