Asbury Automotive Group, Inc. $ABG Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 46.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,831 shares of the company’s stock after selling 3,384 shares during the quarter. State of Alaska Department of Revenue’s holdings in Asbury Automotive Group were worth $659,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group by 20.2% during the third quarter. GAMMA Investing LLC now owns 642 shares of the company’s stock valued at $111,000 after buying an additional 108 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Asbury Automotive Group by 207.2% in the third quarter. Farther Finance Advisors LLC now owns 467 shares of the company’s stock worth $80,000 after buying an additional 315 shares during the period. Versant Capital Management Inc raised its holdings in shares of Asbury Automotive Group by 42.4% in the third quarter. Versant Capital Management Inc now owns 534 shares of the company’s stock worth $92,000 after buying an additional 159 shares during the period. Cim Investment Management Inc. lifted its stake in shares of Asbury Automotive Group by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 1,167 shares of the company’s stock worth $235,000 after acquiring an additional 79 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in Asbury Automotive Group by 1,067.2% during the 2nd quarter. Engineers Gate Manager LP now owns 14,217 shares of the company’s stock valued at $2,859,000 after acquiring an additional 12,999 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABG shares. Weiss Ratings restated a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Thursday. Citigroup increased their target price on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. UBS Group reduced their target price on Asbury Automotive Group from $250.00 to $193.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Seaport Research Partners upgraded Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. lowered their target price 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. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $214.00.

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of the business’s stock in a transaction that occurred 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 owned 11,259 shares in the company, valued at approximately $2,817,902.52. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $172.70 on Friday. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29. Asbury Automotive Group, Inc. has a 1 year low of $160.30 and a 1 year high of $258.74. The firm has a 50-day moving average of $190.94 and a two-hundred day moving average of $199.50.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.43 EPS. On average, research analysts forecast that Asbury Automotive Group, Inc. will post 25.64 earnings per share for the current year.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised and independent dealerships. Its dealerships sell new and used vehicles from a range of domestic, import and luxury automobile brands, and provide related services throughout the vehicle ownership cycle.

The company’s operations include automotive repair and maintenance, parts and accessories, collision repair, vehicle financing and insurance products, and other dealership services. Asbury also supports vehicle sales and service through digital retailing and online customer tools.

Founded in 1995, Asbury has expanded through acquisitions and serves customers across multiple markets in the United States.