Asbury Automotive Group, Inc. (NYSE:ABG) Stock Position Cut by Aigen Investment Management LP

Aigen Investment Management LP trimmed its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,052 shares of the company’s stock after selling 146 shares during the quarter. Aigen Investment Management LP’s holdings in Asbury Automotive Group were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABG. Dimensional Fund Advisors LP increased its stake in shares of Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after acquiring an additional 69,975 shares during the period. Eminence Capital LP increased its position in shares of Asbury Automotive Group by 41.5% during the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after purchasing an additional 146,246 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Asbury Automotive Group by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock worth $45,065,000 after buying an additional 7,754 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Asbury Automotive Group by 366.1% in the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock valued at $45,233,000 after buying an additional 148,910 shares during the period. Finally, Magnolia Group LLC boosted its stake in Asbury Automotive Group by 7.8% during the second quarter. Magnolia Group LLC now owns 110,000 shares of the company’s stock valued at $25,066,000 after buying an additional 8,000 shares in the last quarter.

Asbury Automotive Group Stock Down 1.2 %

NYSE:ABG opened at $261.62 on Friday. The business’s fifty day moving average price is $231.86 and its 200 day moving average price is $233.74. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.81 and a beta of 1.16. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.12 EPS. On average, sell-side analysts forecast that Asbury Automotive Group, Inc. will post 25.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ABG shares. Stephens started coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target for the company. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $256.20.

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.