Federated Hermes Inc. Raises Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Federated Hermes Inc. raised its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 34,097.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,285 shares of the company's stock after purchasing an additional 11,252 shares during the quarter. Federated Hermes Inc. owned 0.05% of Asbury Automotive Group worth $2,539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Asbury Automotive Group by 31.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,589 shares of the company's stock valued at $3,957,000 after acquiring an additional 4,198 shares during the last quarter. International Assets Investment Management LLC bought a new position in Asbury Automotive Group during the fourth quarter worth about $12,855,000. Envestnet Asset Management Inc. grew its holdings in Asbury Automotive Group by 18.3% during the third 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 bought a new position in Asbury Automotive Group during the third quarter worth about $4,185,000. Finally, Kensico Capital Management Corp grew its holdings in Asbury Automotive Group by 73.7% during the third 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.

Insider Activity at Asbury Automotive Group

In related news, SVP Jed Milstein sold 3,955 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total value of $826,595.00. Following the completion of the sale, the senior vice president now directly owns 8,300 shares in the company, valued at $1,734,700. The sale was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded up $4.85 during trading on Friday, reaching $221.97. 170,337 shares of the stock were exchanged, compared to its average volume of 156,528. Asbury Automotive Group, Inc. has a 12 month low of $178.40 and a 12 month high of $256.39. The firm has a market cap of $4.48 billion, a PE ratio of 8.09 and a beta of 1.18. The stock has a 50-day moving average price of $216.97 and a 200-day moving average price of $213.23. The company has a current ratio of 1.06, a quick ratio of 0.45 and a debt-to-equity ratio of 0.96.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.78 by ($0.57). The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.26 billion. Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.37%. The company's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.37 earnings per share. Research analysts expect that Asbury Automotive Group, Inc. will post 31.46 EPS for the current fiscal year.

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.