Asbury Automotive Group, Inc. (NYSE:ABG) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 47.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,442 shares of the company's stock after buying an additional 3,042 shares during the period. State of Tennessee Department of Treasury's holdings in Asbury Automotive Group were worth $2,295,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC lifted its position in shares of Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock worth $122,000 after purchasing an additional 351 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Asbury Automotive Group by 275.2% during the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after purchasing an additional 443 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in shares of Asbury Automotive Group by 801.4% in the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after purchasing an additional 561 shares during the last quarter.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now directly owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.59% of the stock is owned by insiders.

Asbury Automotive Group Stock Up 1.8 %

Shares of NYSE ABG traded up $3.99 during trading hours on Friday, hitting $222.34. 122,961 shares of the stock were exchanged, compared to its average volume of 204,402. The company has a market cap of $4.37 billion, a PE ratio of 10.34 and a beta of 0.98. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month 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 firm has a fifty day moving average price of $232.82 and a 200-day moving average price of $249.13.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $4.31 billion. During the same period in the previous year, the business earned $7.21 earnings per share. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analyst Weigh In

ABG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Citigroup began coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective for the company. Finally, Stephens raised their target price on shares of 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. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.