Voss Capital LP Grows Stock Holdings in Asbury Automotive Group, Inc. $ABG

Key Points

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Voss Capital LP raised its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 43.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,111 shares of the company's stock after acquiring an additional 51,411 shares during the quarter. Asbury Automotive Group comprises 2.9% of Voss Capital LP's investment portfolio, making the stock its 12th biggest holding. Voss Capital LP owned about 0.86% of Asbury Automotive Group worth $37,346,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ABG. Envestnet Asset Management Inc. boosted its position in Asbury Automotive Group by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,279 shares of the company's stock valued at $2,984,000 after acquiring an additional 173 shares during the last quarter. Bank of Montreal Can boosted its position in Asbury Automotive Group by 2.0% during the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock valued at $608,000 after acquiring an additional 48 shares during the last quarter. Sterling Capital Management LLC boosted its position in Asbury Automotive Group by 801.4% during the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after acquiring an additional 561 shares during the last quarter. Mariner LLC boosted its position in Asbury Automotive Group by 3.7% during the fourth 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 last quarter. Finally, XTX Topco Ltd bought a new stake in Asbury Automotive Group during the fourth quarter valued at $247,000.

Insiders Place Their Bets

In related news, Director Juanita T. James sold 625 shares of Asbury Automotive Group stock in a transaction that occurred 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 completion of the transaction, the director directly owned 6,855 shares in the company, valued at approximately $1,673,305.50. The trade was a 8.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.59% of the company's stock.

Analyst Ratings Changes

ABG has been the topic of a number of research analyst reports. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company 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. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley increased their price objective 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. Finally, Cfra set a $225.00 price objective on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $254.00.

Asbury Automotive Group Stock Performance

Shares of ABG stock traded up $13.24 during trading hours on Friday, hitting $253.38. 187,133 shares of the company were exchanged, compared to its average volume of 202,739. The firm has a fifty day simple moving average of $239.97 and a 200 day simple moving average of $240.82. 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 52-week low of $201.68 and a 52-week high of $312.56. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.59 and a beta of 0.87.

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