1,840 Shares in Asbury Automotive Group, Inc. (NYSE:ABG) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,840 shares of the company’s stock, valued at approximately $447,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABG. PNC Financial Services Group Inc. grew its holdings in Asbury Automotive Group by 36.7% during the third quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock worth $984,000 after purchasing an additional 1,107 shares during the period. Intech Investment Management LLC bought a new position in Asbury Automotive Group during the third quarter worth about $1,223,000. Citigroup Inc. grew its holdings in Asbury Automotive Group by 23.9% during the third quarter. Citigroup Inc. now owns 54,917 shares of the company’s stock worth $13,103,000 after purchasing an additional 10,603 shares during the period. Cerity Partners LLC grew its holdings in Asbury Automotive Group by 36.7% during the third quarter. Cerity Partners LLC now owns 6,064 shares of the company’s stock worth $1,447,000 after purchasing an additional 1,628 shares during the period. Finally, Quantbot Technologies LP grew its holdings in Asbury Automotive Group by 172.1% during the third quarter. Quantbot Technologies LP now owns 14,191 shares of the company’s stock worth $3,386,000 after purchasing an additional 8,976 shares during the period.

Insider Activity

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stephens boosted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Craig Hallum cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $264.00.

Asbury Automotive Group Stock Up 0.6 %

NYSE ABG opened at $233.44 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 1-year low of $206.62 and a 1-year high of $312.56. The company has a 50 day moving average of $267.71 and a 200-day moving average of $250.38. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 10.85 and a beta of 1.22.

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.