Dynamic Technology Lab Private Ltd Invests $1.14 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Dynamic Technology Lab Private Ltd bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,700 shares of the company’s stock, valued at approximately $1,142,000.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Asbury Automotive Group by 47.4% during the 3rd quarter. FMR LLC now owns 2,141 shares of the company’s stock valued at $511,000 after acquiring an additional 688 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Asbury Automotive Group by 29.1% during the third quarter. Captrust Financial Advisors now owns 2,037 shares of the company’s stock valued at $486,000 after purchasing an additional 459 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Asbury Automotive Group by 3.2% in the 3rd quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock valued at $409,000 after purchasing an additional 53 shares during the period. Systematic Financial Management LP purchased a new position in Asbury Automotive Group in the 3rd quarter worth about $269,000. Finally, Stifel Financial Corp increased its stake in Asbury Automotive Group by 1,990.9% in the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after purchasing an additional 18,973 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABG. Stephens raised their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut 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. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Asbury Automotive Group presently has a consensus rating of “Hold” and an average target price of $263.00.

Asbury Automotive Group Stock Down 0.9 %

ABG stock opened at $211.62 on Friday. The company has a 50 day moving average of $262.92 and a two-hundred day moving average of $250.43. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 9.84 and a beta of 1.22. Asbury Automotive Group, Inc. has a 12-month low of $205.37 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.

Insider Transactions at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.