Sei Investments Co. Increases Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Sei Investments Co. raised its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,823 shares of the company’s stock after purchasing an additional 945 shares during the quarter. Sei Investments Co.’s holdings in Asbury Automotive Group were worth $5,884,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ABG. GAMMA Investing LLC boosted its holdings in Asbury Automotive Group by 100.0% in the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $155,000. Kapitalo Investimentos Ltda acquired a new position in Asbury Automotive Group in the 4th quarter valued at about $162,000. Headlands Technologies LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $190,000. Finally, Innealta Capital LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $194,000.

Insiders Place Their Bets

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction 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. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 of the company’s stock, valued at approximately $453,211,473.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David W. Hult sold 500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction 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. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $238.59 on Tuesday. The firm has a market cap of $4.81 billion, a PE ratio of 8.69 and a beta of 1.16. Asbury Automotive Group, Inc. has a 52-week low of $178.40 and a 52-week high of $277.13. 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 company’s 50 day moving average is $235.01 and its two-hundred day moving average is $230.49.

Asbury Automotive Group (NYSE:ABG) last released its 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 business had revenue of $4.20 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $8.95 earnings per share. On average, research analysts expect that Asbury Automotive Group, Inc. will post 26.99 EPS for the current fiscal year.

Analyst Ratings Changes

ABG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. StockNews.com lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Finally, 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 on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $237.75.

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.