Voloridge Investment Management LLC Purchases 24,561 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Voloridge Investment Management LLC raised its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 37.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,198 shares of the company's stock after acquiring an additional 24,561 shares during the quarter. Voloridge Investment Management LLC owned 0.46% of Asbury Automotive Group worth $21,921,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in Asbury Automotive Group by 5.5% in the fourth quarter. Tidal Investments LLC now owns 3,214 shares of the company's stock valued at $781,000 after buying an additional 167 shares during the last quarter. Snowden Capital Advisors LLC purchased a new position in Asbury Automotive Group during the 4th quarter valued at about $270,000. Seven Six Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at approximately $2,333,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at approximately $329,000. Finally, ProShare Advisors LLC grew its stake in shares of Asbury Automotive Group by 40.4% in the 4th quarter. ProShare Advisors LLC now owns 5,926 shares of the company's stock valued at $1,440,000 after buying an additional 1,704 shares in the last quarter.

Asbury Automotive Group Trading Down 0.0%

Shares of ABG stock traded down $0.09 on Wednesday, reaching $229.62. 23,265 shares of the stock were exchanged, compared to its average volume of 201,220. The stock has a 50 day moving average price of $224.99 and a 200 day moving average price of $248.37. The stock has a market cap of $4.51 billion, a PE ratio of 10.68 and a beta of 0.98. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $7.21 EPS. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Bank of America initiated coverage on shares of Asbury Automotive Group in a report on Wednesday. They issued a "buy" rating and a $325.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $261.83.

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.