Asbury Automotive Group, Inc. $ABG Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 474,690 shares of the company’s stock after selling 3,074 shares during the period. Geode Capital Management LLC’s holdings in Asbury Automotive Group were worth $110,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bogart Wealth LLC increased its stake in shares of Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Asbury Automotive Group by 0.4% during the 4th quarter. State of Alaska Department of Revenue now owns 10,983 shares of the company’s stock worth $2,553,000 after buying an additional 47 shares in the last quarter. Osaic Holdings Inc. increased its stake in Asbury Automotive Group by 69.2% during the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after buying an additional 54 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Asbury Automotive Group by 1.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,130 shares of the company’s stock valued at $731,000 after purchasing an additional 54 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its position in shares of Asbury Automotive Group by 76.0% in the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock valued at $32,000 after purchasing an additional 57 shares in the last quarter.

Asbury Automotive Group Stock Up 0.4%

ABG opened at $190.95 on Friday. The business’s 50-day simple moving average is $195.77 and its 200-day simple moving average is $216.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $274.50. The stock has a market capitalization of $3.56 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the firm posted $6.82 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Analysts anticipate that Asbury Automotive Group, Inc. will post 25.68 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABG. Morgan Stanley set a $220.00 price target on Asbury Automotive Group in a research report on Thursday, May 7th. Citigroup decreased their price objective on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. UBS Group started coverage on Asbury Automotive Group in a research note on Wednesday, May 27th. They set a “neutral” rating and a $202.00 price target on the stock. Weiss Ratings cut Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Finally, Barclays increased their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $232.00.

Insider Activity

In related news, Director B. Christopher Disantis purchased 500 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by corporate insiders.

About Asbury Automotive Group

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.