Trexquant Investment LP Acquires Shares of 29,168 Asbury Automotive Group, Inc. $ABG

Key Points

• Trexquant Investment LP has acquired a new position in Asbury Automotive Group, purchasing 29,168 shares valued at approximately $6.44 million, which represents a 0.15% stake in the company.
• Asbury Automotive Group reported earnings per share (EPS) of $7.43 for the last quarter, beating analysts' expectations of $6.82, while revenue rose 3% year-over-year to $4.37 billion.
• Analysts have mixed views on Asbury's stock, with a consensus target price of $254.00 and ratings ranging from "buy" to "sell" by various brokerages.

Trexquant Investment LP purchased a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,168 shares of the company's stock, valued at approximately $6,441,000. Trexquant Investment LP owned approximately 0.15% of Asbury Automotive Group as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after buying an additional 50 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Asbury Automotive Group in the first quarter worth approximately $49,000. GAMMA Investing LLC raised its stake in Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after buying an additional 165 shares in the last quarter. Brucke Financial Inc. bought a new position in Asbury Automotive Group in the fourth quarter worth approximately $202,000. Finally, CWM LLC raised its stake in Asbury Automotive Group by 7.5% in the first quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after buying an additional 60 shares in the last quarter.

Analyst Upgrades and Downgrades

ABG has been the subject of a number of recent research reports. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $225.00 to $277.00 in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research note on Tuesday, August 5th. Bank of America upped their price target on Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Morgan Stanley upped their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Finally, Cfra set a $225.00 price target on Asbury Automotive Group in a research report on Tuesday, July 29th. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $254.00.

Asbury Automotive Group Price Performance

Shares of ABG stock traded up $4.26 during mid-day trading on Thursday, hitting $257.94. 47,904 shares of the stock were exchanged, compared to its average volume of 199,456. The firm has a fifty day moving average of $242.41 and a 200 day moving average of $238.29. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a market cap of $5.07 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

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

Insider Activity at Asbury Automotive Group

In related news, SVP Dean Calloway sold 400 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $254.40, for a total value of $101,760.00. Following the transaction, the senior vice president directly owned 5,295 shares of the company's stock, valued at approximately $1,347,048. This trade represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jed Milstein sold 1,132 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $253.26, for a total transaction of $286,690.32. Following the completion of the transaction, the senior vice president directly owned 11,267 shares in the company, valued at $2,853,480.42. This represents a 9.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,957 shares of company stock worth $745,501 in the last quarter. Company insiders own 0.53% of the company's stock.

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.