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SG Americas Securities LLC Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Asbury Automotive Group logo with Retail/Wholesale background

SG Americas Securities LLC acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,032 shares of the company's stock, valued at approximately $1,111,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its holdings in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after purchasing an additional 41 shares during the last quarter. Bank of Montreal Can grew its holdings in Asbury Automotive Group by 2.0% during the 4th quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock worth $608,000 after acquiring an additional 48 shares in the last quarter. Versant Capital Management Inc grew its holdings in 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. Mariner LLC boosted its holdings in shares of Asbury Automotive Group by 3.7% in the 4th quarter. Mariner LLC now owns 1,856 shares of the company's stock valued at $451,000 after buying an additional 67 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 4.5% in the 4th quarter. HighTower Advisors LLC now owns 1,798 shares of the company's stock valued at $437,000 after buying an additional 78 shares during the period.

Asbury Automotive Group Price Performance

Shares of NYSE ABG traded up $1.84 during midday trading on Friday, reaching $237.63. The company's stock had a trading volume of 382,457 shares, compared to its average volume of 199,647. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average price of $228.26 and a 200 day moving average price of $245.07. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the firm earned $7.21 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Analyst Upgrades and Downgrades

ABG has been the topic of a number of recent analyst reports. Bank of America boosted 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. 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. Citigroup initiated coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Asbury Automotive Group has a consensus rating of "Hold" and a consensus target price of $263.50.

Read Our Latest Research Report on ABG

Asbury Automotive Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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