Seven Six Capital Management LLC Invests $2.33 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Seven Six Capital Management LLC acquired 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 and Exchange Commission. The fund acquired 9,601 shares of the company's stock, valued at approximately $2,333,000. Asbury Automotive Group comprises approximately 2.0% of Seven Six Capital Management LLC's portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABG. GoodHaven Capital Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at $2,916,000. Magnolia Group LLC grew its position in shares of Asbury Automotive Group by 2.1% in the 4th quarter. Magnolia Group LLC now owns 149,123 shares of the company's stock valued at $36,241,000 after buying an additional 3,000 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Asbury Automotive Group by 52.3% in the 4th quarter. Intech Investment Management LLC now owns 7,805 shares of the company's stock valued at $1,897,000 after buying an additional 2,680 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at about $221,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Asbury Automotive Group by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock valued at $51,465,000 after buying an additional 3,273 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target 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. Stephens upped their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Finally, Citigroup began coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $258.50.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. The trade was a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.59% of the stock is currently owned by insiders.

Asbury Automotive Group Stock Down 1.0%

NYSE:ABG traded down $2.41 on Tuesday, hitting $231.53. The stock had a trading volume of 93,239 shares, compared to its average volume of 201,653. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56. The company has a market cap of $4.55 billion, a PE ratio of 10.76 and a beta of 0.98. The business's fifty day moving average is $225.65 and its 200 day moving average is $249.25. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

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

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.