Inspire Investing LLC Acquires 199 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Inspire Investing LLC raised its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,734 shares of the company’s stock after acquiring an additional 199 shares during the period. Inspire Investing LLC’s holdings in Asbury Automotive Group were worth $414,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Asbury Automotive Group by 26.4% during the first quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock valued at $4,768,000 after purchasing an additional 4,224 shares during the last quarter. Foundry Partners LLC grew its position in Asbury Automotive Group by 11.7% in the first quarter. Foundry Partners LLC now owns 21,040 shares of the company’s stock worth $4,961,000 after acquiring an additional 2,198 shares in the last quarter. Natixis purchased a new position in Asbury Automotive Group in the first quarter worth $896,000. Boston Partners bought a new position in Asbury Automotive Group in the first quarter valued at $878,000. Finally, Tidal Investments LLC bought a new stake in Asbury Automotive Group during the first quarter worth about $537,000.

Asbury Automotive Group Stock Up 0.1 %

Shares of Asbury Automotive Group stock opened at $225.83 on Wednesday. The company’s 50 day moving average price is $229.98 and its 200-day moving average price is $231.13. 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. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 8.23 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. Asbury Automotive Group’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the business earned $8.95 EPS. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.01 EPS for the current year.

Insider Activity at Asbury Automotive Group

In other news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 stock was 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 in the company, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Hult sold 500 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABG has been the topic of several recent research reports. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective for the company. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Finally, Bank of America decreased their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $251.20.

Asbury Automotive Group Profile

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.