Castleark Management LLC Invests $2.31 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Castleark Management LLC bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,680 shares of the company's stock, valued at approximately $2,310,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABG. Assenagon Asset Management S.A. lifted its holdings in Asbury Automotive Group by 366.1% in the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company's stock valued at $45,233,000 after buying an additional 148,910 shares during the period. Eminence Capital LP raised its position in shares of Asbury Automotive Group by 41.5% during the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company's stock valued at $113,603,000 after acquiring an additional 146,246 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $26,573,000. Dimensional Fund Advisors LP boosted its position in shares of Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company's stock worth $240,818,000 after purchasing an additional 69,975 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Asbury Automotive Group during the third quarter worth $154,270,000.

Wall Street Analysts Forecast Growth

ABG has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Stephens began coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price objective for the company. Bank of America cut their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, Craig Hallum boosted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $256.20.

Asbury Automotive Group Stock Down 0.1 %

NYSE ABG traded down $0.18 during trading hours on Friday, reaching $258.98. 99,651 shares of the company's stock were exchanged, compared to its average volume of 151,438. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 14.66 and a beta of 1.18. The company's 50-day moving average is $243.74 and its two-hundred day moving average is $237.69. Asbury Automotive Group, Inc. has a one year low of $195.09 and a one year high of $277.13.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company 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 firm's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $8.12 EPS. On average, analysts forecast that Asbury Automotive Group, Inc. will post 25.17 EPS for the current fiscal year.

Asbury Automotive Group 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.