Asbury Automotive Group, Inc. (NYSE:ABG) Position Trimmed by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,018 shares of the company's stock after selling 1,092 shares during the quarter. Peregrine Capital Management LLC owned about 0.15% of Asbury Automotive Group worth $7,295,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ABG. Creative Planning raised its stake in shares of Asbury Automotive Group by 5.1% during the 3rd quarter. Creative Planning now owns 4,129 shares of the company's stock worth $985,000 after buying an additional 200 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Asbury Automotive Group during the third quarter worth $154,270,000. Moody Aldrich Partners LLC grew its holdings in Asbury Automotive Group by 17.7% in the third quarter. Moody Aldrich Partners LLC now owns 10,830 shares of the company's stock valued at $2,584,000 after purchasing an additional 1,627 shares during the last quarter. Argent Capital Management LLC boosted its position in shares of Asbury Automotive Group by 5.1% in the 3rd quarter. Argent Capital Management LLC now owns 13,287 shares of the company's stock worth $3,170,000 after buying an additional 640 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Asbury Automotive Group by 366.1% in 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 in the last quarter.

Insiders Place Their Bets

In related news, COO Daniel Clara sold 1,217 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by insiders.

Asbury Automotive Group Trading Down 3.8 %

Shares of ABG traded down $10.82 during mid-day trading on Friday, reaching $276.73. The company had a trading volume of 157,450 shares, compared to its average volume of 201,951. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 12.87 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $264.56 and a 200-day simple moving average of $247.65. Asbury Automotive Group, Inc. has a fifty-two week low of $202.98 and a fifty-two week high of $312.56.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABG shares. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Seaport Res Ptn lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Asbury Automotive Group from $260.00 to $255.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Finally, StockNews.com raised shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $264.00.

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.