Denali Advisors LLC Grows Stock Position in Asbury Automotive Group, Inc. $ABG

Denali Advisors LLC increased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 25.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,922 shares of the company’s stock after buying an additional 7,800 shares during the quarter. Denali Advisors LLC owned about 0.21% of Asbury Automotive Group worth $7,625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Asbury Automotive Group in the 2nd quarter worth about $593,499,000. Norges Bank purchased a new position in shares of Asbury Automotive Group during the 4th quarter worth about $77,963,000. Thrivent Financial for Lutherans grew its holdings in Asbury Automotive Group by 106.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after purchasing an additional 152,669 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Asbury Automotive Group during the 2nd quarter valued at about $27,142,000. Finally, Woodline Partners LP purchased a new stake in Asbury Automotive Group in the 3rd quarter worth about $32,684,000.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG opened at $213.65 on Thursday. The firm’s 50 day simple moving average is $211.84 and its 200-day simple moving average is $206.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $263.38. The firm has a market cap of $3.84 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 0.78 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $7.43 earnings per share. Asbury Automotive Group’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts predict that Asbury Automotive Group, Inc. will post 26.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Stephens reaffirmed an “overweight” rating and set a $242.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Barclays increased their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. UBS Group set a $250.00 price target on Asbury Automotive Group in a research note on Wednesday, July 29th. Finally, Citigroup boosted their price objective on Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $246.71.

Insiders Place Their Bets

In other Asbury Automotive Group news, SVP Jed Milstein sold 948 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at approximately $2,817,902.52. This represents a 7.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by company insiders.

Asbury Automotive Group 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.