Voss Capital LP Has $37.35 Million Stock Holdings in Asbury Automotive Group, Inc. $ABG

Key Points

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Voss Capital LP grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 43.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 169,111 shares of the company's stock after acquiring an additional 51,411 shares during the period. Asbury Automotive Group accounts for 2.9% of Voss Capital LP's investment portfolio, making the stock its 12th biggest holding. Voss Capital LP owned 0.86% of Asbury Automotive Group worth $37,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Asbury Automotive Group in the first quarter worth $262,000. New York State Teachers Retirement System lifted its position in Asbury Automotive Group by 13.7% during the 1st quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock worth $3,279,000 after acquiring an additional 1,787 shares during the last quarter. GAMMA Investing LLC lifted its position in Asbury Automotive Group by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after acquiring an additional 165 shares during the last quarter. TD Asset Management Inc acquired a new position in Asbury Automotive Group during the 1st quarter worth $6,037,000. Finally, SG Americas Securities LLC acquired a new position in Asbury Automotive Group during the 1st quarter worth $1,111,000.

Insider Transactions at Asbury Automotive Group

In related news, Director Juanita T. James sold 625 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total value of $152,562.50. Following the completion of the transaction, the director owned 6,855 shares of the company's stock, valued at $1,673,305.50. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Asbury Automotive Group Stock Performance

Shares of ABG traded up $13.24 during trading hours on Friday, reaching $253.38. 187,133 shares of the company traded hands, compared to its average volume of 226,077. The stock's fifty day moving average is $239.97 and its 200 day moving average is $239.95. The stock has a market cap of $4.98 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ABG shares. Bank of America boosted their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research report on Tuesday, August 5th. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. Cfra set a $225.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Finally, Morgan Stanley upped their price objective on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $254.00.

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.