Asbury Automotive Group, Inc. $ABG Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Asbury Automotive Group by 51.5%, owning a total of 10,027 shares valued at approximately $2.21 million.
• The company's quarterly earnings surpassed analysts' expectations, reporting $7.43 EPS compared to the consensus estimate of $6.82, despite revenue slightly falling short at $4.37 billion.
• Analysts have mixed ratings on the stock, with two rating it a Buy, four as Hold, and one as Sell, resulting in an average price target of $254.00.

Russell Investments Group Ltd. grew its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 51.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,027 shares of the company's stock after buying an additional 3,410 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of Asbury Automotive Group worth $2,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake 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 buying an additional 50 shares in the last quarter. Choreo LLC increased its holdings in Asbury Automotive Group by 1.7% in the 1st quarter. Choreo LLC now owns 3,094 shares of the company's stock valued at $683,000 after purchasing an additional 53 shares during the last quarter. US Bancorp DE grew its stake in shares of Asbury Automotive Group by 1.7% in the first quarter. US Bancorp DE now owns 3,540 shares of the company's stock worth $782,000 after acquiring an additional 58 shares in the last quarter. CWM LLC lifted its position 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 during the last quarter. Finally, Vista Finance LLC lifted its position in Asbury Automotive Group by 7.0% in the first quarter. Vista Finance LLC now owns 982 shares of the company's stock valued at $217,000 after acquiring an additional 64 shares during the last quarter.

Asbury Automotive Group Trading Down 2.6%

Shares of Asbury Automotive Group stock traded down $6.58 during midday trading on Friday, reaching $251.46. 160,985 shares of the company's stock traded hands, compared to its average volume of 201,318. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. The company has a market cap of $4.94 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.69 and a beta of 0.87. The stock has a 50 day moving average of $241.50 and a 200-day moving average of $239.64. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its 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 firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.44 billion. During the same period in the prior year, the firm posted $6.40 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABG. Morgan Stanley raised their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a report on Tuesday, August 5th. Finally, Bank of America raised their price target 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. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $254.00.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director Juanita T. James sold 625 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $244.10, for a total transaction of $152,562.50. Following the completion of the transaction, the director owned 6,855 shares in the company, valued at $1,673,305.50. The trade was a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dean Calloway sold 400 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total value of $101,760.00. Following the transaction, the senior vice president owned 5,295 shares of the company's stock, valued at approximately $1,347,048. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,157 shares of company stock worth $541,013 in the last quarter. 0.59% of the stock is owned by corporate insiders.

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.