Amalgamated Bank Sells 267 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Amalgamated Bank decreased its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,889 shares of the company’s stock after selling 267 shares during the period. Amalgamated Bank’s holdings in Asbury Automotive Group were worth $1,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABG. Dimensional Fund Advisors LP increased its holdings in Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after buying an additional 69,975 shares during the period. Eminence Capital LP increased its holdings in shares of Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after acquiring an additional 146,246 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Asbury Automotive Group by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock valued at $45,065,000 after acquiring an additional 7,754 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Asbury Automotive Group by 366.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after acquiring an additional 148,910 shares in the last quarter. Finally, Magnolia Group LLC lifted its stake in shares of Asbury Automotive Group by 7.8% during the 2nd quarter. Magnolia Group LLC now owns 110,000 shares of the company’s stock worth $25,066,000 after purchasing an additional 8,000 shares during the last quarter.

Asbury Automotive Group Stock Up 2.4 %

ABG stock opened at $264.89 on Thursday. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13. The stock has a market capitalization of $5.19 billion, a PE ratio of 14.99 and a beta of 1.16. The firm has a 50 day moving average of $231.86 and a 200 day moving average of $233.74.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $8.12 earnings per share. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 25.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABG shares. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America cut their price objective 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, October 14th. Stephens began coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price for the company. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $256.20.

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.