Advisory Research Inc. Cuts Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Advisory Research Inc. reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 48.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,821 shares of the company's stock after selling 13,803 shares during the period. Advisory Research Inc. owned about 0.08% of Asbury Automotive Group worth $3,602,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ABG. GoodHaven Capital Management LLC acquired a new position in Asbury Automotive Group in the 4th quarter valued at $2,916,000. Magnolia Group LLC increased its position in Asbury Automotive Group by 2.1% during the 4th quarter. Magnolia Group LLC now owns 149,123 shares of the company's stock worth $36,241,000 after purchasing an additional 3,000 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Asbury Automotive Group by 52.3% during the fourth quarter. Intech Investment Management LLC now owns 7,805 shares of the company's stock worth $1,897,000 after buying an additional 2,680 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Asbury Automotive Group in the 4th quarter valued at $221,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Asbury Automotive Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock valued at $51,465,000 after acquiring an additional 3,273 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on ABG. Stephens increased their target price on 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 lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and an average price target of $263.00.

Insider Activity

In related news, COO Daniel Clara sold 1,217 shares of the company'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 transaction of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock traded up $1.69 during trading on Friday, hitting $218.47. The stock had a trading volume of 161,047 shares, compared to its average volume of 199,284. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock's 50 day moving average is $245.95 and its two-hundred day moving average is $249.63. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 10.16 and a beta of 1.04.

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.