FORA Capital LLC Decreases Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

FORA Capital LLC lessened its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 61.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,858 shares of the company's stock after selling 2,915 shares during the quarter. FORA Capital LLC's holdings in Asbury Automotive Group were worth $443,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $31,000. Quarry LP acquired a new position in shares of Asbury Automotive Group in the second quarter valued at about $38,000. GAMMA Investing LLC raised its stake in shares of Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the second quarter worth about $155,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Asbury Automotive Group during the second quarter worth about $190,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reduced 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 research report on Tuesday, November 5th. StockNews.com upgraded shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Stephens assumed coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price target on the stock. Craig Hallum lifted their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group presently has a consensus rating of "Hold" and an average price target of $256.20.

Asbury Automotive Group Price Performance

Shares of ABG stock traded down $0.20 during trading hours on Friday, hitting $259.83. 66,049 shares of the company's stock were exchanged, compared to its average volume of 183,006. Asbury Automotive Group, Inc. has a fifty-two week low of $195.09 and a fifty-two week high of $277.13. The firm has a market cap of $5.09 billion, a P/E ratio of 14.75 and a beta of 1.16. 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 firm has a 50 day moving average of $240.91 and a two-hundred day moving average of $236.96.

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

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.