Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,321 shares of the company's stock after selling 44,636 shares during the period. Price T Rowe Associates Inc. MD owned about 0.43% of Asbury Automotive Group worth $20,250,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Stifel Financial Corp raised its holdings in Asbury Automotive Group by 5.1% in the 4th quarter. Stifel Financial Corp now owns 20,940 shares of the company's stock worth $5,089,000 after purchasing an additional 1,014 shares during the period. State of Tennessee Department of Treasury increased its position in shares of Asbury Automotive Group by 47.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 9,442 shares of the company's stock valued at $2,295,000 after buying an additional 3,042 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Asbury Automotive Group by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 11,802 shares of the company's stock worth $2,868,000 after buying an additional 337 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Asbury Automotive Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company's stock valued at $269,322,000 after buying an additional 9,688 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Asbury Automotive Group in the 4th quarter valued at $680,000.

Insiders Place Their Bets

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now owns 3,747 shares of the company's stock, valued at $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by insiders.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock traded down $0.02 on Wednesday, hitting $220.25. 16,072 shares of the company were exchanged, compared to its average volume of 203,129. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.24 and a beta of 0.98. The company has a 50-day moving average price of $229.78 and a 200 day moving average price of $249.01.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $7.21 earnings per share. As a group, sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Craig Hallum lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Citigroup initiated coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Asbury Automotive Group presently has a consensus rating of "Hold" and a consensus price target of $258.50.

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.