Voloridge Investment Management LLC Raises Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Voloridge Investment Management LLC increased its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 37.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 90,198 shares of the company's stock after acquiring an additional 24,561 shares during the period. Voloridge Investment Management LLC owned approximately 0.46% of Asbury Automotive Group worth $21,921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. CIBC Private Wealth Group LLC grew its holdings in Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after purchasing an additional 41 shares during the period. Bank of Montreal Can lifted its position in shares of Asbury Automotive Group by 2.0% during the 4th quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock valued at $608,000 after buying an additional 48 shares in the last quarter. Mariner LLC grew its stake in Asbury Automotive Group by 3.7% in the 4th quarter. Mariner LLC now owns 1,856 shares of the company's stock valued at $451,000 after acquiring an additional 67 shares during the period. HighTower Advisors LLC grew its stake in Asbury Automotive Group by 4.5% in the 4th quarter. HighTower Advisors LLC now owns 1,798 shares of the company's stock valued at $437,000 after acquiring an additional 78 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in Asbury Automotive Group by 2.3% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,023 shares of the company's stock worth $978,000 after acquiring an additional 92 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABG. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Citigroup began coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price target on the stock. Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Stephens boosted their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Finally, Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Asbury Automotive Group has an average rating of "Hold" and a consensus target price of $258.50.

Asbury Automotive Group Trading Up 2.0%

ABG traded up $4.42 on Tuesday, hitting $229.61. The company had a trading volume of 43,222 shares, compared to its average volume of 217,258. The company's fifty day moving average price is $225.04 and its 200 day moving average price is $248.51. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.51 billion, a P/E ratio of 10.67 and a beta of 0.98.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $7.21 earnings per share. Asbury Automotive Group's revenue was down 1.3% on a year-over-year basis. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Asbury Automotive Group Company Profile

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.