ABS Direct Equity Fund LLC Invests $1.69 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

ABS Direct Equity Fund LLC purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,500 shares of the company's stock, valued at approximately $1,687,000. Asbury Automotive Group accounts for approximately 1.6% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 26th largest position.

Several other large investors have also recently added to or reduced their stakes in ABG. DekaBank Deutsche Girozentrale acquired a new position in shares of Asbury Automotive Group during the third quarter worth $36,000. CWM LLC grew its stake in shares of Asbury Automotive Group by 94.0% during the third quarter. CWM LLC now owns 161 shares of the company's stock valued at $37,000 after acquiring an additional 78 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $48,000. Blue Trust Inc. increased its position in shares of Asbury Automotive Group by 31.2% during the fourth quarter. Blue Trust Inc. now owns 244 shares of the company's stock worth $56,000 after acquiring an additional 58 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new position in shares of Asbury Automotive Group in the third quarter worth about $202,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Craig Hallum downgraded Asbury Automotive Group from a "buy" rating to a "hold" rating and set a $230.00 price objective on the stock. in a report on Thursday, February 8th. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Thursday.

Asbury Automotive Group Stock Performance

Shares of ABG stock traded up $5.30 on Friday, hitting $213.75. 201,911 shares of the stock traded hands, compared to its average volume of 168,569. The company's fifty day moving average is $217.00 and its 200 day moving average is $213.13. Asbury Automotive Group, Inc. has a 1-year low of $178.40 and a 1-year high of $256.39. The company has a market capitalization of $4.31 billion, a PE ratio of 7.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $7.21 earnings per share for the quarter, missing the consensus estimate of $7.76 by ($0.55). Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the firm earned $8.37 EPS. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts predict that Asbury Automotive Group, Inc. will post 30.85 earnings per share for the current fiscal year.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total value of $826,595.00. Following the transaction, the senior vice president now owns 8,300 shares of the company's stock, valued at $1,734,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% 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.