Cibc World Markets Corp Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Cibc World Markets Corp bought a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,840 shares of the company's stock, valued at approximately $447,000.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock valued at $122,000 after acquiring an additional 351 shares during the last quarter. KBC Group NV increased its holdings in shares of Asbury Automotive Group by 52.3% in the 4th quarter. KBC Group NV now owns 769 shares of the company's stock worth $187,000 after buying an additional 264 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Asbury Automotive Group by 17.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company's stock valued at $204,000 after buying an additional 123 shares during the period. Stephens Inc. AR purchased a new position in shares of Asbury Automotive Group during the 4th quarter worth about $213,000. Finally, Highland Capital Management LLC purchased a new position in Asbury Automotive Group in the 4th quarter worth about $216,000.

Insider Buying and Selling at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

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Asbury Automotive Group Stock Down 4.6 %

ABG traded down $11.03 on Thursday, hitting $226.59. 253,008 shares of the company were exchanged, compared to its average volume of 180,651. Asbury Automotive Group, Inc. has a twelve month low of $206.62 and a twelve month high of $312.56. The firm has a 50-day moving average price of $267.59 and a two-hundred day moving average price of $250.60. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 10.53 and a beta of 1.22.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABG shares. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday. Stephens raised their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Finally, Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Asbury Automotive Group has a consensus rating of "Hold" and a consensus target price of $263.00.

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.