Seven Six Capital Management LLC Buys 8,374 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Seven Six Capital Management LLC increased its stake in Asbury Automotive Group, Inc. by 87.2%, holding a total of 17,975 shares worth approximately $3.97 million.
• Asbury Automotive Group reported $7.43 earnings per share (EPS) for the most recent quarter, exceeding analyst estimates of $6.82, with a revenue of $4.37 billion.
• Analysts have mixed ratings on Asbury Automotive Group, with a consensus rating of "Hold" and price targets ranging from $215.00 to $335.00.

Seven Six Capital Management LLC increased its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 87.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,975 shares of the company's stock after buying an additional 8,374 shares during the quarter. Asbury Automotive Group comprises 3.6% of Seven Six Capital Management LLC's portfolio, making the stock its 10th largest holding. Seven Six Capital Management LLC owned about 0.09% of Asbury Automotive Group worth $3,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew 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 worth $36,000 after buying an additional 50 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Asbury Automotive Group in the first quarter worth approximately $49,000. GAMMA Investing LLC lifted its position in Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares during the period. CWM LLC lifted its position in Asbury Automotive Group by 7.5% in the first quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after purchasing an additional 60 shares during the period. Finally, TD Private Client Wealth LLC acquired a new stake in Asbury Automotive Group in the first quarter worth approximately $197,000.

Insider Activity at Asbury Automotive Group

In other news, Director Maureen F. Morrison sold 800 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $255.61, for a total value of $204,488.00. Following the transaction, the director directly owned 5,824 shares of the company's stock, valued at approximately $1,488,672.64. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jed Milstein sold 1,132 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total transaction of $286,690.32. Following the completion of the transaction, the senior vice president directly owned 11,267 shares in the company, valued at $2,853,480.42. This trade represents a 9.13% 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. 0.53% of the stock is owned by insiders.

Asbury Automotive Group Stock Down 0.2%

Shares of ABG traded down $0.49 during mid-day trading on Tuesday, reaching $253.87. The company's stock had a trading volume of 82,517 shares, compared to its average volume of 140,336. The business has a fifty day moving average of $243.47 and a 200 day moving average of $236.90. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 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 released its earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the company earned $6.40 earnings per share. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on 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. Cfra set a $225.00 target price on Asbury Automotive Group in a research report on Tuesday, July 29th. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Stephens upgraded Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. Finally, Bank of America upped their target price on 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 investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.