KLP Kapitalforvaltning AS Makes New Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

KLP Kapitalforvaltning AS purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,800 shares of the company's stock, valued at approximately $924,000.

Several other hedge funds have also recently modified their holdings of the stock. SkyView Investment Advisors LLC grew its position in Asbury Automotive Group by 2.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company's stock worth $506,000 after purchasing an additional 50 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Asbury Automotive Group by 3.2% during the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company's stock valued at $409,000 after buying an additional 53 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of 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 valued at $978,000 after acquiring an additional 92 shares during the period. Evergreen Private Wealth LLC raised its stake in Asbury Automotive Group by 0.7% in the 4th quarter. Evergreen Private Wealth LLC now owns 16,624 shares of the company's stock worth $4,040,000 after acquiring an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Asbury Automotive Group by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company's stock worth $204,000 after acquiring an additional 123 shares during the last quarter.

Analyst Upgrades and Downgrades

ABG has been the topic of a number of research reports. Stephens increased 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. JPMorgan Chase & Co. cut their price target 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. Finally, Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $263.00.

Asbury Automotive Group Stock Performance

ABG stock traded down $1.85 during trading on Friday, hitting $211.62. 549,616 shares of the company traded hands, compared to its average volume of 194,457. 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, Inc. has a 1 year low of $205.37 and a 1 year high of $312.56. The stock's 50-day simple moving average is $262.92 and its 200 day simple moving average is $250.43. The company has a market cap of $4.16 billion, a PE ratio of 9.84 and a beta of 1.22.

Insiders Place Their Bets

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares in the company, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

Asbury Automotive Group 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.