BNP Paribas Arbitrage SA lifted its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 61.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,360 shares of the company’s stock after buying an additional 4,338 shares during the period. BNP Paribas Arbitrage SA owned about 0.05% of Asbury Automotive Group worth $694,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Asbury Automotive Group by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock worth $125,000 after buying an additional 331 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Asbury Automotive Group by 4.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after buying an additional 132 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Asbury Automotive Group in the 2nd quarter worth approximately $220,000. Parametrica Management Ltd acquired a new position in shares of Asbury Automotive Group in the 3rd quarter worth approximately $223,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Asbury Automotive Group in the 2nd quarter worth approximately $230,000.
In other news, Director Juanita T. James sold 1,500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $66.16, for a total value of $99,240.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Craig T. Monaghan sold 48,288 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $60.96, for a total value of $2,943,636.48. Following the completion of the transaction, the chief executive officer now owns 125,408 shares in the company, valued at $7,644,871.68. The disclosure for this sale can be found here. Insiders sold a total of 270,884 shares of company stock worth $16,719,320 over the last quarter. Corporate insiders own 11.90% of the company’s stock.
Asbury Automotive Group, Inc. (NYSE ABG) opened at $67.00 on Wednesday. The company has a market capitalization of $1,408.32, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.21 and a beta of 1.56. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.25 and a quick ratio of 0.38. Asbury Automotive Group, Inc. has a 12-month low of $49.10 and a 12-month high of $71.00.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.48 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.09). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 earnings per share. equities research analysts predict that Asbury Automotive Group, Inc. will post 6.25 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Jefferies Group reaffirmed a “hold” rating and set a $61.00 price target on shares of Asbury Automotive Group in a report on Thursday, October 12th. Zacks Investment Research upgraded Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.75.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
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