Seven Six Capital Management LLC Has $3.97 Million Holdings in 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 grew its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 87.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,975 shares of the company's stock after purchasing an additional 8,374 shares during the period. Asbury Automotive Group comprises 3.6% of Seven Six Capital Management LLC's holdings, making the stock its 10th largest holding. Seven Six Capital Management LLC owned 0.09% of Asbury Automotive Group worth $3,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc boosted its position 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 acquiring an additional 50 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Asbury Automotive Group during the 1st quarter worth approximately $49,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 165 shares in the last quarter. Brucke Financial Inc. acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $202,000. Finally, CWM LLC boosted 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 acquiring an additional 60 shares in the last quarter.

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Dean Calloway sold 400 shares of Asbury Automotive Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the completion of the transaction, the senior vice president owned 5,295 shares of the company's stock, valued at $1,347,048. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Juanita T. James sold 625 shares of Asbury Automotive Group 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 transaction, the director directly owned 6,855 shares of the company's stock, valued at $1,673,305.50. This represents a 8.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,957 shares of company stock worth $745,501 over the last ninety days. Insiders own 0.59% of the company's stock.

Asbury Automotive Group Trading Down 2.9%

Shares of ABG stock traded down $7.36 during trading hours on Friday, hitting $245.49. 25,520 shares of the company's stock traded hands, compared to its average volume of 196,855. The stock's 50 day simple moving average is $243.12 and its 200 day simple moving average is $236.82. The stock has a market cap of $4.83 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month 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 quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.82 by $0.61. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.40 earnings per share. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analysts Forecast Growth

ABG has been the topic of a number of research analyst reports. Bank of America cut their target price on shares of Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating on the stock in a research report on Wednesday. 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 company an "equal weight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 5th. Finally, Stephens upgraded shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $225.00 to $277.00 in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and an average price target of $249.00.

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.