Magnolia Group LLC Sells 3,350 Shares of Asbury Automotive Group, Inc. $ABG

Magnolia Group LLC reduced its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,273 shares of the company’s stock after selling 3,350 shares during the period. Asbury Automotive Group makes up about 10.7% of Magnolia Group LLC’s investment portfolio, making the stock its 3rd biggest position. Magnolia Group LLC owned approximately 1.44% of Asbury Automotive Group worth $64,939,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 83 shares during the period. Torren Management LLC acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $27,000. Bogart Wealth LLC raised its position in shares of Asbury Automotive Group by 52.4% during the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after acquiring an additional 54 shares during the period. Finally, Salomon & Ludwin LLC raised its holdings in shares of Asbury Automotive Group by 76.0% during the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock worth $32,000 after acquiring an additional 57 shares during the period.

Wall Street Analyst Weigh In

ABG has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Citigroup dropped their price objective on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a report on Thursday. Stephens dropped their target price on Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings lowered Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $238.00.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director B. Christopher Disantis purchased 500 shares of the stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director directly owned 5,400 shares of the company’s stock, valued at $1,092,420. This trade represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by company insiders.

Asbury Automotive Group Stock Down 0.2%

Shares of ABG stock opened at $199.95 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.35 and a debt-to-equity ratio of 0.78. Asbury Automotive Group, Inc. has a 1 year low of $184.61 and a 1 year high of $274.50. The firm’s fifty day moving average price is $200.72 and its two-hundred day moving average price is $223.16. The firm has a market capitalization of $3.72 billion, a P/E ratio of 7.08, a PEG ratio of 1.08 and a beta of 0.78.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the previous year, the firm posted $6.82 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Asbury Automotive Group, Inc. will post 26.23 EPS for the current fiscal year.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.