New York State Common Retirement Fund Lowers Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

New York State Common Retirement Fund reduced its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,256 shares of the company’s stock after selling 9,704 shares during the period. New York State Common Retirement Fund owned approximately 0.33% of Asbury Automotive Group worth $15,808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in Asbury Automotive Group by 26.4% in the 1st quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock valued at $4,768,000 after acquiring an additional 4,224 shares during the last quarter. Foundry Partners LLC increased its holdings in Asbury Automotive Group by 11.7% in the 1st quarter. Foundry Partners LLC now owns 21,040 shares of the company’s stock valued at $4,961,000 after acquiring an additional 2,198 shares during the last quarter. Natixis bought a new stake in Asbury Automotive Group in the 1st quarter valued at $896,000. Boston Partners bought a new stake in Asbury Automotive Group in the 1st quarter valued at $878,000. Finally, Tidal Investments LLC bought a new stake in Asbury Automotive Group in the 1st quarter valued at $537,000.

Asbury Automotive Group Trading Up 2.1 %

NYSE ABG opened at $242.06 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.74 billion, a PE ratio of 13.70 and a beta of 1.16. The company has a 50 day moving average price of $229.40 and a 200 day moving average price of $232.09. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $8.12 EPS. As a group, sell-side analysts forecast that Asbury Automotive Group, Inc. will post 25.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s 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 completion of the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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 company’s 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 transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO David W. Hult sold 500 shares of the company’s 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 transaction, the chief executive officer now owns 56,834 shares in the company, valued at $12,911,548.12. The trade was a 0.00 % decrease in their position. 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

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Craig Hallum boosted their target price on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Bank of America lowered their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Stephens initiated coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $256.20.

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.