Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Man Group plc

Man Group plc cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 45.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,617 shares of the company’s stock after selling 26,349 shares during the period. Man Group plc owned approximately 0.16% of Asbury Automotive Group worth $7,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GoodHaven Capital Management LLC acquired a new stake in Asbury Automotive Group during the fourth quarter valued at approximately $2,916,000. Magnolia Group LLC lifted its stake in Asbury Automotive Group by 2.1% during the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock valued at $36,241,000 after purchasing an additional 3,000 shares during the last quarter. Intech Investment Management LLC lifted its stake in Asbury Automotive Group by 52.3% during the fourth quarter. Intech Investment Management LLC now owns 7,805 shares of the company’s stock valued at $1,897,000 after purchasing an additional 2,680 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Asbury Automotive Group during the fourth quarter valued at approximately $221,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Asbury Automotive Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock valued at $51,465,000 after purchasing an additional 3,273 shares during the last quarter.

Insider Buying and Selling at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This represents a 24.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ABG shares. StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Citigroup assumed coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price for the company. Stephens boosted their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Finally, Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $258.50.

Asbury Automotive Group Stock Down 0.6%

Asbury Automotive Group stock opened at $233.64 on Tuesday. The firm has a market cap of $4.59 billion, a PE ratio of 10.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The firm’s 50 day moving average price is $225.56 and its two-hundred day moving average price is $249.38. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56.

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

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.