Proficio Capital Partners LLC Takes $5.32 Million Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Proficio Capital Partners LLC purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 21,873 shares of the company's stock, valued at approximately $5,316,000. Proficio Capital Partners LLC owned about 0.11% of Asbury Automotive Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABG. Janney Montgomery Scott LLC acquired a new stake in Asbury Automotive Group in the 3rd quarter valued at $804,000. Atria Investments Inc increased its stake in Asbury Automotive Group by 51.8% in the 3rd quarter. Atria Investments Inc now owns 2,520 shares of the company's stock valued at $601,000 after buying an additional 860 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Asbury Automotive Group by 18.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,680 shares of the company's stock valued at $401,000 after buying an additional 259 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Asbury Automotive Group by 3.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company's stock valued at $440,000 after acquiring an additional 57 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Asbury Automotive Group by 22.4% in the 3rd quarter. Empowered Funds LLC now owns 5,380 shares of the company's stock valued at $1,284,000 after acquiring an additional 985 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently commented on ABG. Stephens lifted their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Craig Hallum downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $264.00.

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Asbury Automotive Group Stock Performance

NYSE ABG traded down $2.58 during trading on Thursday, reaching $231.98. The company's stock had a trading volume of 190,644 shares, compared to its average volume of 179,525. 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 firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 10.78 and a beta of 1.22. Asbury Automotive Group, Inc. has a 12 month low of $206.62 and a 12 month high of $312.56. The firm has a 50 day moving average price of $268.14 and a 200 day moving average price of $250.50.

Insider Buying and Selling at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of the business's 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

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.