Robotti Robert Purchases Shares of 20,270 Asbury Automotive Group, Inc. (NYSE: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 bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,270 shares of the company's stock, valued at approximately $4,476,000. Asbury Automotive Group accounts for approximately 0.9% of Robotti Robert's portfolio, making the stock its 23rd biggest holding. Robotti Robert owned 0.10% of Asbury Automotive Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in Asbury Automotive Group by 43.9% in the first 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. Caitong International Asset Management Co. Ltd acquired a new stake in Asbury Automotive Group in the first quarter valued at $49,000. GAMMA Investing LLC lifted its holdings in Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock valued at $129,000 after acquiring an additional 165 shares during the period. Sterling Capital Management LLC lifted its holdings in Asbury Automotive Group by 801.4% in the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after acquiring an additional 561 shares during the period. Finally, CWM LLC increased its position in shares of Asbury Automotive Group by 7.5% in the first quarter. CWM LLC now owns 858 shares of the company's stock valued at $189,000 after buying an additional 60 shares in the last quarter.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock traded down $1.56 during midday trading on Friday, reaching $240.64. 175,298 shares of the company were exchanged, compared to its average volume of 233,991. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.59 and a beta of 0.87. The firm's 50-day simple moving average is $239.53 and its 200-day simple moving average is $242.27. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABG. Stephens upgraded Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $225.00 to $277.00 in a research report on Wednesday. Cfra set a $225.00 price target on Asbury Automotive Group in a research report on Tuesday, July 29th. Morgan Stanley raised their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday. Citigroup began coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $254.00.

Asbury Automotive Group Company 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.