Cim Investment Management Inc. Sells 274 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Cim Investment Management Inc. trimmed its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 19.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,152 shares of the company’s stock after selling 274 shares during the quarter. Cim Investment Management Inc.’s holdings in Asbury Automotive Group were worth $263,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of Asbury Automotive Group in the 4th quarter valued at $3,746,000. TFO Wealth Partners LLC grew its position in Asbury Automotive Group by 115,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock valued at $259,000 after acquiring an additional 1,150 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth about $272,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter worth about $2,751,000. Finally, Schroder Investment Management Group boosted its stake in shares of Asbury Automotive Group by 0.3% in the 4th quarter. Schroder Investment Management Group now owns 199,340 shares of the company’s stock valued at $44,846,000 after purchasing an additional 601 shares in the last quarter.

Insider Transactions at Asbury Automotive Group

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

Wall Street Analysts Forecast Growth

ABG has been the subject of a number of research analyst reports. StockNews.com cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Stephens initiated 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. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $190.00 to $240.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $237.75.

Asbury Automotive Group Trading Up 2.6 %

Shares of NYSE ABG opened at $244.35 on Friday. The firm has a 50 day moving average price of $235.01 and a two-hundred day moving average price of $230.21. The stock has a market cap of $4.93 billion, a P/E ratio of 8.90 and a beta of 1.16. Asbury Automotive Group, Inc. has a 52-week low of $178.40 and a 52-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.

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