SG Americas Securities LLC Buys 8,542 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• SG Americas Securities LLC increased its stake in Asbury Automotive Group (ABG) by 1,570.2%, buying 8,542 shares to hold 9,086 shares worth about $2.11 million as of its latest SEC filing.
• Asbury reported quarterly EPS $6.67 (missed by $0.03) and revenue $4.68 billion (below the $4.93 billion consensus); revenue was up 3.8% year‑over‑year and the company posted a net margin of 2.73%.
• Several large institutions also boosted positions—most notably Eminence Capital now owns 1,002,160 shares (~$239 million)—while Wall Street sentiment is mixed, with a MarketBeat consensus rating of Hold and an average target price of $248.29.

SG Americas Securities LLC lifted its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 1,570.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,086 shares of the company's stock after purchasing an additional 8,542 shares during the period. SG Americas Securities LLC's holdings in Asbury Automotive Group were worth $2,113,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Eminence Capital LP increased its holdings in Asbury Automotive Group by 36.0% during the 2nd quarter. Eminence Capital LP now owns 1,002,160 shares of the company's stock valued at $239,055,000 after purchasing an additional 265,539 shares during the period. Woodline Partners LP bought a new stake in shares of Asbury Automotive Group in the 3rd quarter worth approximately $32,684,000. Thrivent Financial for Lutherans grew its position in shares of Asbury Automotive Group by 545.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 143,388 shares of the company's stock worth $35,051,000 after buying an additional 121,183 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Asbury Automotive Group by 261.7% during the third quarter. American Century Companies Inc. now owns 159,645 shares of the company's stock valued at $39,025,000 after buying an additional 115,504 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Asbury Automotive Group by 49.1% during the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company's stock valued at $61,561,000 after buying an additional 91,767 shares during the period.

Asbury Automotive Group Price Performance

ABG opened at $194.77 on Friday. The firm has a market cap of $3.76 billion, a PE ratio of 7.76 and a beta of 0.80. The stock has a 50-day moving average price of $213.05 and a 200-day moving average price of $229.68. Asbury Automotive Group, Inc. has a 1 year low of $184.61 and a 1 year high of $274.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing the consensus estimate of $6.70 by ($0.03). The firm had revenue of $4.68 billion for the quarter, compared to analysts' expectations of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $7.26 earnings per share. Sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Insider Activity at Asbury Automotive Group

In other news, Director B. Christopher Disantis purchased 500 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $202.30 per share, with a total value of $101,150.00. Following the completion of the transaction, the director directly owned 5,400 shares of the company's stock, valued at approximately $1,092,420. The trade was a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays cut their target price on shares of Asbury Automotive Group from $250.00 to $230.00 and set a "reduce" rating on the stock in a research note on Friday, February 6th. Bank of America initiated coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a "buy" rating for the company. JPMorgan Chase & Co. lifted their price objective on Asbury Automotive Group from $235.00 to $240.00 and gave the company an "underweight" rating in a research report on Friday, March 20th. Weiss Ratings downgraded Asbury Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 23rd. Finally, Morgan Stanley set a $230.00 target price on Asbury Automotive Group in a research report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Asbury Automotive Group presently has a consensus rating of "Hold" and an average target price of $248.29.

About Asbury Automotive Group

Asbury Automotive Group, Inc NYSE: ABG is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.

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