Wealthfront Advisers LLC Invests $3.29 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Wealthfront Advisers LLC purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,537 shares of the company's stock, valued at approximately $3,290,000. Wealthfront Advisers LLC owned approximately 0.07% of Asbury Automotive Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABG. Natixis Advisors LLC purchased a new position in Asbury Automotive Group during the 3rd quarter valued at about $26,573,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Asbury Automotive Group in the third quarter valued at approximately $14,219,000. Proficio Capital Partners LLC purchased a new position in shares of Asbury Automotive Group during the 4th quarter worth approximately $5,316,000. Stifel Financial Corp raised its position in shares of Asbury Automotive Group by 1,990.9% during the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company's stock worth $4,754,000 after purchasing an additional 18,973 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Asbury Automotive Group by 94.9% during the 3rd quarter. Barclays PLC now owns 38,644 shares of the company's stock worth $9,220,000 after purchasing an additional 18,821 shares during the last quarter.

Insider Activity

In other news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares of the company's stock, valued at $1,111,510.08. The trade was a 24.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several research firms have weighed in on ABG. JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $260.00 to $255.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Stephens boosted their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $264.00.

Asbury Automotive Group Trading Up 1.8 %

Asbury Automotive Group stock traded up $4.23 during trading on Monday, hitting $235.11. The company's stock had a trading volume of 155,426 shares, compared to its average volume of 178,804. The stock's fifty day moving average is $268.34 and its 200 day moving average is $250.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. Asbury Automotive Group, Inc. has a 1-year low of $206.62 and a 1-year high of $312.56. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 10.93 and a beta of 1.22.

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.