Intech Investment Management LLC Takes $1.22 Million Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Intech Investment Management LLC bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,125 shares of the company's stock, valued at approximately $1,223,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABG. Dimensional Fund Advisors LP boosted its stake in shares of Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company's stock valued at $240,818,000 after purchasing an additional 69,975 shares in the last quarter. Eminence Capital LP increased its holdings in Asbury Automotive Group by 41.5% in the second quarter. Eminence Capital LP now owns 498,542 shares of the company's stock valued at $113,603,000 after purchasing an additional 146,246 shares during the period. Bank of New York Mellon Corp raised its position in Asbury Automotive Group by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company's stock worth $45,065,000 after purchasing an additional 7,754 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Asbury Automotive Group by 366.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company's stock worth $45,233,000 after buying an additional 148,910 shares during the period. Finally, Natixis Advisors LLC bought a new stake in shares of Asbury Automotive Group in the 3rd quarter valued at about $26,573,000.

Asbury Automotive Group Stock Down 1.5 %

Shares of NYSE ABG traded down $3.84 during trading on Wednesday, hitting $259.88. 162,334 shares of the company traded hands, compared to its average volume of 183,514. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 14.92 and a beta of 1.16. The business's fifty day moving average is $238.74 and its 200 day moving average is $236.45. 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 fifty-two week low of $195.09 and a fifty-two week high of $277.13.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts' consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company posted $8.12 earnings per share. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. Equities research analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on ABG shares. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Morgan Stanley upgraded shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Seaport Res Ptn downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. StockNews.com raised Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, Stephens assumed coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $216.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $256.20.

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.