Asbury Automotive Group, Inc. $ABG Shares Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Asbury Automotive Group by 129.3%, owning a total of 2,206 shares valued at $487,000 after purchasing 1,244 additional shares.
• Asbury Automotive Group reported $7.43 EPS for the quarter, exceeding analysts' expectations of $6.82, while revenue was up 3.0% year-over-year at $4.37 billion.
• Equity analysts have set a range of price targets for Asbury Automotive Group, with Bank of America raising its target price to $335.00 and Stephens moving it to $277.00, reflecting overall positive sentiment about the stock.

Vident Advisory LLC grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 129.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,206 shares of the company's stock after purchasing an additional 1,244 shares during the quarter. Vident Advisory LLC's holdings in Asbury Automotive Group were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Timucuan Asset Management Inc. FL grew its position in shares of Asbury Automotive Group by 0.7% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 713,158 shares of the company's stock worth $157,494,000 after buying an additional 5,284 shares during the last quarter. Madison Asset Management LLC grew its position in shares of Asbury Automotive Group by 10.1% in the 1st quarter. Madison Asset Management LLC now owns 373,320 shares of the company's stock worth $82,444,000 after buying an additional 34,160 shares during the last quarter. Magnolia Group LLC grew its position in shares of Asbury Automotive Group by 50.6% in the 1st quarter. Magnolia Group LLC now owns 224,623 shares of the company's stock worth $49,606,000 after buying an additional 75,500 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Asbury Automotive Group by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 213,996 shares of the company's stock worth $47,259,000 after buying an additional 2,230 shares during the last quarter. Finally, Voss Capital LP grew its position in shares of Asbury Automotive Group by 43.7% in the 1st quarter. Voss Capital LP now owns 169,111 shares of the company's stock worth $37,346,000 after buying an additional 51,411 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of ABG stock traded down $8.90 during trading hours on Friday, hitting $243.95. The company's stock had a trading volume of 88,779 shares, compared to its average volume of 133,225. The company has a 50 day moving average of $242.83 and a 200 day moving average of $236.60. The stock has a market cap of $4.80 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.62 and a beta of 0.89. 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 12-month low of $201.68 and a 12-month high of $312.56.

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

Insider Buying and Selling at Asbury Automotive Group

In other news, Director Juanita T. James sold 625 shares of the company's stock in a transaction 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 sale, the director directly owned 6,855 shares of the company's stock, valued at $1,673,305.50. This represents a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dean Calloway sold 400 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the completion of the transaction, the senior vice president owned 5,295 shares of the company's stock, valued at approximately $1,347,048. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,957 shares of company stock valued at $745,501 over the last quarter. Insiders own 0.59% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 5th. Morgan Stanley boosted their target price on shares of 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. Bank of America dropped their target price on shares of Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $249.00.

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.