Vanguard Group Inc. Sells 25,219 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Vanguard trimmed its position by 1.2%, selling 25,219 shares and now holds 2,140,824 shares of Asbury (11.01% of the company) worth about $497.8 million.
• Asbury missed expectations for the quarter—EPS $5.37 vs. $5.62 expected and revenue $4.11B vs. $4.37B expected—with EPS down from $6.82 year‑ago, and analysts’ consensus rating is a “Hold” (average price target $241.57).
• Insider activity was modestly positive: Director B. Christopher Disantis bought 500 shares and insiders collectively own about 0.75% of the stock.

Vanguard Group Inc. lowered its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,140,824 shares of the company's stock after selling 25,219 shares during the quarter. Vanguard Group Inc. owned 11.01% of Asbury Automotive Group worth $497,806,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Abrams Capital Management L.P. boosted its holdings in Asbury Automotive Group by 2.2% in the 3rd quarter. Abrams Capital Management L.P. now owns 2,155,492 shares of the company's stock worth $526,910,000 after buying an additional 46,952 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Asbury Automotive Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,104,168 shares of the company's stock worth $269,906,000 after purchasing an additional 5,757 shares in the last quarter. Magnolia Group LLC lifted its holdings in Asbury Automotive Group by 18.7% in the 3rd quarter. Magnolia Group LLC now owns 282,623 shares of the company's stock worth $69,087,000 after purchasing an additional 44,500 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company's stock worth $61,561,000 after purchasing an additional 91,767 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Asbury Automotive Group by 3.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 218,028 shares of the company's stock worth $53,297,000 after purchasing an additional 6,562 shares during the period.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock opened at $198.60 on Wednesday. The company's 50-day moving average price is $201.55 and its 200-day moving average price is $223.80. The company has a quick ratio of 0.35, a current ratio of 0.94 and a debt-to-equity ratio of 0.78. The company has a market cap of $3.83 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.05 and a beta of 0.78. Asbury Automotive Group, Inc. has a twelve month low of $184.61 and a twelve month high of $274.50.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter in the prior year, the business posted $6.82 EPS. The company's revenue was down .9% on a year-over-year basis. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABG shares. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $240.00 to $235.00 and set an "underweight" rating on the stock in a research report on Friday, April 17th. Weiss Ratings lowered shares of Asbury Automotive Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, April 29th. Bank of America assumed coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They set a "buy" rating for the company. Citigroup decreased their price target on shares of Asbury Automotive Group from $260.00 to $212.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 8th. Finally, Stephens dropped their price objective on shares of Asbury Automotive Group from $277.00 to $254.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $241.57.

Insider Activity

In other news, Director B. Christopher Disantis acquired 500 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director directly owned 5,400 shares of the company's stock, valued at $1,092,420. This trade represents a 10.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.75% of the stock is owned by insiders.

About Asbury Automotive Group

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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