Asbury Automotive Group, Inc. (NYSE:ABG) Stake Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,403 shares of the company’s stock after selling 441 shares during the period. State of Alaska Department of Revenue owned 0.06% of Asbury Automotive Group worth $2,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABG. Assenagon Asset Management S.A. boosted its holdings in shares of Asbury Automotive Group by 366.1% during the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock valued at $45,233,000 after acquiring an additional 148,910 shares during the period. Eminence Capital LP boosted its stake in Asbury Automotive Group by 41.5% during the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after purchasing an additional 146,246 shares during the period. Dimensional Fund Advisors LP grew its position in Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after purchasing an additional 69,975 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Asbury Automotive Group in the third quarter valued at approximately $154,270,000. Finally, Khrom Capital Management LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $14,572,000.

Asbury Automotive Group Price Performance

NYSE:ABG opened at $228.00 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average price is $229.84 and its 200 day moving average price is $231.41. Asbury Automotive Group, Inc. has a 52-week low of $186.29 and a 52-week high of $277.13. The firm has a market cap of $4.56 billion, a P/E ratio of 12.90 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $8.12 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction on 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 owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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 business’s 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 sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Hult sold 500 shares of the firm’s 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 currently owned by company insiders.

Analysts Set New Price Targets

ABG has been the subject of a number of recent analyst reports. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America decreased their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research note 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. Finally, Craig Hallum raised their target price on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $257.20.

Asbury Automotive Group Company 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.