Thrivent Financial for Lutherans Increases Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Thrivent Financial for Lutherans more than doubled its stake in Asbury Automotive Group in the fourth quarter, adding 152,669 shares to bring its total to 296,057 shares worth about $68.8 million.
• Several analysts remain cautious on ABG, with a consensus rating of Hold and an average price target of $238, though target changes were mixed across firms such as Barclays, Citigroup, Morgan Stanley, and Stephens.
• Asbury’s latest quarterly results missed expectations, posting EPS of $5.37 versus $5.62 expected and revenue of $4.11 billion versus $4.37 billion expected; the stock also traded near its 52-week low at $179.26.

Thrivent Financial for Lutherans raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 106.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,057 shares of the company's stock after buying an additional 152,669 shares during the period. Thrivent Financial for Lutherans owned about 1.52% of Asbury Automotive Group worth $68,842,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Torren Management LLC bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $27,000. Quarry LP raised its stake in shares of Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company's stock valued at $27,000 after acquiring an additional 83 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Asbury Automotive Group by 52.4% during the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company's stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock valued at $31,000 after acquiring an additional 54 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of Asbury Automotive Group by 76.0% during the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company's stock valued at $32,000 after acquiring an additional 57 shares in the last quarter.

Wall Street Analyst Weigh In

ABG has been the subject of several research analyst reports. Barclays lifted their price target on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 7th. Morgan Stanley set a $220.00 price target on shares of Asbury Automotive Group in a research note on Thursday, May 7th. Citigroup decreased their price target on shares of Asbury Automotive Group from $260.00 to $212.00 and set a "neutral" rating for the company in a research note on Wednesday, April 8th. Weiss Ratings downgraded shares of Asbury Automotive Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. Finally, Stephens decreased their price target on shares of Asbury Automotive Group from $277.00 to $254.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Asbury Automotive Group currently has an average rating of "Hold" and a consensus target price of $238.00.

Insider Buying and Selling

In other Asbury Automotive Group news, Director B. Christopher Disantis acquired 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 purchase, the director directly owned 5,400 shares of the company's stock, valued at approximately $1,092,420. This represents a 10.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG opened at $179.26 on Friday. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 6.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. Asbury Automotive Group, Inc. has a 52 week low of $179.12 and a 52 week high of $274.50. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $198.17 and a 200 day moving average of $221.10.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing analysts' consensus estimates of $5.62 by ($0.25). The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.37 billion. Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $6.82 EPS. On average, sell-side analysts predict that Asbury Automotive Group, Inc. will post 25.74 earnings per share for the current fiscal year.

Asbury Automotive Group Company Profile

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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