Timucuan Asset Management Inc. FL Has $157.49 Million Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Timucuan Asset Management Inc. increased its stake in Asbury Automotive Group by 0.7%, now owning approximately 3.63% of the company, valued at $157.49 million.
• Several large investors significantly modified their positions in Asbury Automotive Group, with GAMMA Investing LLC increasing its stake by an astonishing 30,639.2%.
• Analyst ratings for Asbury Automotive Group are mixed, with two analysts giving a "Buy" rating and a current average price target of $254.00 according to MarketBeat data.

Timucuan Asset Management Inc. FL lifted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 713,158 shares of the company's stock after purchasing an additional 5,284 shares during the quarter. Asbury Automotive Group comprises about 4.8% of Timucuan Asset Management Inc. FL's investment portfolio, making the stock its 11th largest holding. Timucuan Asset Management Inc. FL owned 3.63% of Asbury Automotive Group worth $157,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Eminence Capital LP raised its position in Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company's stock worth $191,453,000 after acquiring an additional 107,317 shares in the last quarter. Madison Asset Management LLC raised its position in Asbury Automotive Group by 10.1% in the first quarter. Madison Asset Management LLC now owns 373,320 shares of the company's stock worth $82,444,000 after acquiring an additional 34,160 shares in the last quarter. Northern Trust Corp raised its position in Asbury Automotive Group by 9.1% in the fourth quarter. Northern Trust Corp now owns 239,007 shares of the company's stock worth $58,086,000 after acquiring an additional 19,923 shares in the last quarter. Magnolia Group LLC raised its position in Asbury Automotive Group by 50.6% in the first quarter. Magnolia Group LLC now owns 224,623 shares of the company's stock worth $49,606,000 after acquiring an additional 75,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Asbury Automotive Group by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 213,996 shares of the company's stock worth $47,259,000 after acquiring an additional 2,230 shares in the last quarter.

Insider Activity at Asbury Automotive Group

In related news, SVP Jed Milstein sold 1,132 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total value of $286,690.32. Following the completion of the sale, the senior vice president owned 11,267 shares of the company's stock, valued at approximately $2,853,480.42. The trade was a 9.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Juanita T. James sold 625 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total value of $152,562.50. Following the completion of the sale, the director directly owned 6,855 shares of the company's stock, valued at approximately $1,673,305.50. The trade was a 8.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,157 shares of company stock valued at $541,013. 0.53% of the stock is owned by corporate insiders.

Asbury Automotive Group Stock Down 2.6%

NYSE:ABG traded down $6.58 on Monday, hitting $251.46. 160,985 shares of the company's stock traded hands, compared to its average volume of 165,404. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The firm has a 50-day moving average price of $241.77 and a 200-day moving average price of $238.44. The company has a market cap of $4.94 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, beating the consensus estimate of $6.82 by $0.61. The company had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.44 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.40 EPS. Equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ABG shares. Morgan Stanley lifted their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Cfra set a $225.00 price target on Asbury Automotive Group in a research note on Tuesday, July 29th. Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 5th. Finally, Bank of America lifted their price target on Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $254.00.

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.