Snowden Capital Advisors LLC Invests $270,000 in Asbury Automotive Group, Inc. (NYSE:ABG)

Snowden Capital Advisors LLC acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,112 shares of the company's stock, valued at approximately $270,000.

Several other large investors also recently bought and sold shares of the company. Seven Six Capital Management LLC purchased a new position in Asbury Automotive Group in the 4th quarter worth about $2,333,000. Sherbrooke Park Advisers LLC bought a new position in Asbury Automotive Group in the 4th quarter worth approximately $329,000. ProShare Advisors LLC grew its position in Asbury Automotive Group by 40.4% in the fourth quarter. ProShare Advisors LLC now owns 5,926 shares of the company's stock valued at $1,440,000 after acquiring an additional 1,704 shares during the period. Millennium Management LLC boosted its stake in Asbury Automotive Group by 108.4% in the fourth quarter. Millennium Management LLC now owns 20,087 shares of the company's stock worth $4,882,000 after purchasing an additional 10,448 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Asbury Automotive Group by 9.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,026 shares of the company's stock valued at $5,353,000 after acquiring an additional 1,989 shares during the last quarter.

Asbury Automotive Group Price Performance

Shares of ABG traded up $4.30 during mid-day trading on Tuesday, reaching $229.49. 39,312 shares of the company's stock were exchanged, compared to its average volume of 201,673. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 10.67 and a beta of 0.98. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a 50-day simple moving average of $225.04 and a two-hundred day simple moving average of $248.51.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the company posted $7.21 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ABG shares. Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Finally, Stephens lifted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $258.50.

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.