Tudor Investment Corp ET AL Purchases 18,507 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Tudor Investment Corp increased its stake in Asbury Automotive Group by 52.2%, buying 18,507 shares in the quarter and now owns 53,973 shares (~0.28% of the company) valued at about $13.19 million.
• Director B. Christopher Disantis bought 500 shares at $202.30 on March 10, boosting his holdings to 5,400 shares (a 10.2% increase), with corporate insiders owning roughly 0.59% of ABG.
• Analyst views are mixed—Bank of America initiated coverage with a Buy, but the consensus is a "Hold" (2 Buys, 4 Holds, 2 Sells) with an average price target of $248.29, and the company slightly missed recent quarterly EPS and revenue estimates.

Tudor Investment Corp ET AL increased its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 52.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,973 shares of the company's stock after purchasing an additional 18,507 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.28% of Asbury Automotive Group worth $13,194,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ABG. Quarry LP grew its holdings in Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company's stock worth $27,000 after purchasing an additional 83 shares during the period. Osaic Holdings Inc. raised its stake in Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock valued at $31,000 after buying an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Asbury Automotive Group by 64.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company's stock valued at $49,000 after buying an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Asbury Automotive Group by 104.2% in the second quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company's stock valued at $80,000 after buying an additional 172 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Asbury Automotive Group by 466.7% during the 3rd quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $107,000 after acquiring an additional 364 shares during the period.

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis bought 500 shares of the company's stock in a transaction dated 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 acquisition, the director owned 5,400 shares of the company's stock, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ABG shares. Bank of America started coverage on Asbury Automotive Group in a report on Wednesday, March 4th. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised their price target on Asbury Automotive Group from $235.00 to $240.00 and gave the company an "underweight" rating in a report on Friday, March 20th. Morgan Stanley set a $230.00 price objective on shares of Asbury Automotive Group in a research report on Monday, December 8th. Weiss Ratings downgraded shares of Asbury Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 23rd. Finally, Barclays dropped their price objective on shares of Asbury Automotive Group from $250.00 to $230.00 and set a "reduce" rating on the stock in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $248.29.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $194.77 on Monday. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.76 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.35 and a debt-to-equity ratio of 0.79. Asbury Automotive Group, Inc. has a 12 month low of $184.61 and a 12 month high of $274.50. The stock's 50 day moving average is $213.05 and its 200-day moving average is $229.58.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $6.67 earnings per share for the quarter, missing the consensus estimate of $6.70 by ($0.03). The firm had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $7.26 earnings per share. Equities research analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Asbury Automotive Group 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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