Bridgewater Associates LP Acquires 1,279 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Bridgewater Associates LP increased its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 70.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,104 shares of the company's stock after buying an additional 1,279 shares during the quarter. Bridgewater Associates LP's holdings in Asbury Automotive Group were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Asbury Automotive Group during the 4th quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its holdings in Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Asbury Automotive Group by 234.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock valued at $122,000 after purchasing an additional 351 shares in the last quarter. Headlands Technologies LLC increased its stake in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after buying an additional 443 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in Asbury Automotive Group by 801.4% during the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after buying an additional 561 shares in the last quarter.

Insider Activity

In other news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company's stock.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock traded down $3.40 during mid-day trading on Wednesday, hitting $219.60. 194,336 shares of the company's stock traded hands, compared to its average volume of 200,095. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $242.74 and a two-hundred day simple moving average of $249.53. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 10.21 and a beta of 1.04.

Wall Street Analysts Forecast Growth

ABG has been the subject of several analyst reports. Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Citigroup began coverage on shares of Asbury Automotive Group in a report on Wednesday. They set a "neutral" rating and a $236.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $258.50.

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.