Bridges Investment Management Inc. Makes New $760,000 Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Bridges Investment Management Inc. bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,337 shares of the company’s stock, valued at approximately $760,000.

A number of other institutional investors have also bought and sold shares of the business. AXS Investments LLC acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter worth approximately $155,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $162,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter worth approximately $190,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stephens assumed coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target for the company. StockNews.com downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Morgan Stanley lifted their target price on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Asbury Automotive Group presently has an average rating of “Hold” and an average target price of $225.25.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Stock Down 1.1 %

Asbury Automotive Group stock opened at $224.95 on Friday. Asbury Automotive Group, Inc. has a fifty-two week low of $178.40 and a fifty-two week high of $277.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25. The firm has a 50 day moving average price of $236.79 and a 200 day moving average price of $229.47. The company has a market capitalization of $4.54 billion, a PE ratio of 8.20 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the business earned $8.95 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. Research analysts expect that Asbury Automotive Group, Inc. will post 26.99 earnings per share for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.