International Assets Investment Management LLC purchased a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Free Report) during the 3rd quarter, Holdings Channel reports. The fund purchased 64,658 shares of the company’s stock, valued at approximately $154,270,000.
Several other large investors have also made changes to their positions in the company. Creative Planning lifted its stake in shares of Asbury Automotive Group by 5.1% during the third quarter. Creative Planning now owns 4,129 shares of the company’s stock valued at $985,000 after acquiring an additional 200 shares during the period. Inspire Investing LLC lifted its stake in shares of Asbury Automotive Group by 13.0% during the third quarter. Inspire Investing LLC now owns 1,734 shares of the company’s stock valued at $414,000 after acquiring an additional 199 shares during the period. Salvus Wealth Management LLC lifted its stake in shares of Asbury Automotive Group by 29.5% during the third quarter. Salvus Wealth Management LLC now owns 13,539 shares of the company’s stock valued at $3,230,000 after acquiring an additional 3,085 shares during the period. GAMMA Investing LLC lifted its stake in shares of Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after acquiring an additional 101 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its stake in shares of Asbury Automotive Group by 8.2% during the second quarter. Coronation Fund Managers Ltd. now owns 29,615 shares of the company’s stock valued at $6,748,000 after acquiring an additional 2,245 shares during the period.
Asbury Automotive Group Stock Down 1.0 %
Shares of Asbury Automotive Group stock opened at $222.80 on Friday. Asbury Automotive Group, Inc. has a 1 year low of $184.47 and a 1 year high of $277.13. The business has a 50-day moving average of $229.87 and a two-hundred day moving average of $231.18. The company has a market capitalization of $4.49 billion, a P/E ratio of 8.12 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45.
Analysts Set New Price Targets
ABG has been the topic of several research reports. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Morgan Stanley raised 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 research note on Wednesday, September 25th. Stephens initiated coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Bank of America cut their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $251.20.
View Our Latest Analysis on ABG
Insiders Place Their Bets
In other Asbury Automotive Group news, 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 value of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
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.
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