Asbury Automotive Group, Inc. $ABG Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 1,067.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,217 shares of the company’s stock after acquiring an additional 12,999 shares during the period. Engineers Gate Manager LP’s holdings in Asbury Automotive Group were worth $2,859,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Asbury Automotive Group by 19,410.7% in the second quarter. California State Teachers Retirement System now owns 4,302,308 shares of the company’s stock worth $865,108,000 after acquiring an additional 4,280,257 shares during the period. BlackRock Inc. acquired a new position in Asbury Automotive Group during the second quarter valued at $593,499,000. Dimensional Fund Advisors LP lifted its position in Asbury Automotive Group by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock valued at $225,977,000 after purchasing an additional 34,104 shares during the period. State Street Corp boosted its holdings in Asbury Automotive Group by 1.2% in the fourth quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after purchasing an additional 9,535 shares during the last quarter. Finally, Norges Bank purchased a new stake in Asbury Automotive Group in the fourth quarter valued at $77,963,000.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $208.46 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. The firm has a fifty day moving average of $216.05 and a 200 day moving average of $204.38. The firm has a market cap of $3.74 billion, a PE ratio of 7.80, a PEG ratio of 0.80 and a beta of 0.71. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $258.74.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.31 by $0.51. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the firm posted $7.43 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. As a group, research analysts predict that Asbury Automotive Group, Inc. will post 26.44 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the transaction, the senior vice president directly owned 11,259 shares of the company’s stock, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ABG shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Barclays lifted their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Citigroup boosted their price target on Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Morgan Stanley upped their price objective on Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Stephens reaffirmed an “overweight” rating and set a $242.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $237.83.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of franchised dealerships. The company represents a range of domestic, import and luxury automotive brands and serves consumers in multiple markets across the United States.

In addition to vehicle sales, Asbury provides automotive maintenance and repair services, replacement parts, collision repair and other dealership-related services. Its dealerships also offer financing and insurance products, vehicle protection plans and digital tools designed to support vehicle purchasing and ownership.

Founded in 1995 and headquartered in Duluth, Georgia, Asbury has expanded through acquisitions as well as the development of its dealership portfolio.