2,800 Asbury Automotive Group, Inc. $ABG Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 70.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,200 shares of the company’s stock after selling 2,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Asbury Automotive Group were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Asbury Automotive Group during the 2nd quarter worth approximately $34,000. Allworth Financial LP acquired a new position in Asbury Automotive Group during the second quarter worth approximately $36,000. Daytona Street Capital LLC acquired a new position in Asbury Automotive Group during the third quarter worth approximately $32,000. USA Financial Formulas purchased a new stake in Asbury Automotive Group in the third quarter valued at approximately $39,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Asbury Automotive Group by 163.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 321 shares of the company’s stock valued at $75,000 after buying an additional 199 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABG. Morgan Stanley decreased their price objective on Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. Citigroup lifted their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Seaport Research Partners upgraded shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, September 8th. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, October 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Thursday, October 22nd. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Asbury Automotive Group presently has a consensus rating of “Hold” and a consensus price target of $220.88.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $202.91 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.73. Asbury Automotive Group, Inc. has a 52-week low of $160.30 and a 52-week high of $258.74. The business’s 50-day moving average price is $188.22 and its 200 day moving average price is $203.37. The firm has a market cap of $3.64 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.45 and a beta of 0.78.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $6.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.42 by ($0.26). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.51 billion. Asbury Automotive Group had a net margin of 2.66% and a return on equity of 11.85%. The business’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $7.17 EPS. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 24.92 earnings per share for the current year.

About Asbury Automotive Group

Asbury Automotive Group is a U.S. automotive retailer that operates franchised new- and used-vehicle dealerships. Its dealerships sell vehicles from a range of manufacturers and offer related services, including vehicle financing and insurance products, maintenance and repairs, parts sales, and collision repair.

The company also operates Clicklane, a digital platform that lets customers research, purchase, finance, and arrange delivery of vehicles online. Asbury was founded in 1995 and has expanded through acquisitions, including its 2021 purchase of Larry H.