Peregrine Capital Management LLC Cuts Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Peregrine Capital Management LLC decreased its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 24.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,864 shares of the company's stock after selling 14,563 shares during the period. Peregrine Capital Management LLC owned approximately 0.21% of Asbury Automotive Group worth $9,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in Asbury Automotive Group by 18.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 36,265 shares of the company's stock worth $8,343,000 after purchasing an additional 5,610 shares during the period. Qube Research & Technologies Ltd acquired a new position in Asbury Automotive Group in the 3rd quarter worth $4,185,000. Kensico Capital Management Corp boosted its stake in Asbury Automotive Group by 73.7% in the 3rd quarter. Kensico Capital Management Corp now owns 103,000 shares of the company's stock worth $23,697,000 after purchasing an additional 43,700 shares during the period. Tudor Investment Corp Et Al boosted its stake in Asbury Automotive Group by 12,319.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 24,838 shares of the company's stock worth $5,714,000 after purchasing an additional 24,638 shares during the period. Finally, Jump Financial LLC acquired a new position in Asbury Automotive Group in the 3rd quarter worth $644,000.

Asbury Automotive Group Stock Up 2.3 %

Shares of Asbury Automotive Group stock traded up $5.18 during trading hours on Tuesday, reaching $230.00. 153,909 shares of the company's stock were exchanged, compared to its average volume of 165,313. The company has a 50 day moving average of $216.22 and a two-hundred day moving average of $213.37. Asbury Automotive Group, Inc. has a fifty-two week low of $178.40 and a fifty-two week high of $256.39. The company has a current ratio of 1.06, a quick ratio of 0.45 and a debt-to-equity ratio of 0.96. The stock has a market cap of $4.64 billion, a P/E ratio of 8.04 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $7.12 EPS for the quarter, missing analysts' consensus estimates of $7.74 by ($0.62). Asbury Automotive Group had a return on equity of 21.68% and a net margin of 4.07%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the company earned $9.12 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Asbury Automotive Group, Inc. will post 31.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lowered shares of Asbury Automotive Group from a "buy" rating to a "hold" rating and set a $230.00 target price for the company. in a research note on Thursday, February 8th.

Insider Transactions at Asbury Automotive Group

In other news, SVP Jed Milstein sold 3,955 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the transaction, the senior vice president now directly owns 8,300 shares in the company, valued at approximately $1,734,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.41% of the company's stock.

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.