Victory Capital Management Inc. Decreases Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Victory Capital Management Inc. lessened its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,217 shares of the company's stock after selling 2,718 shares during the period. Victory Capital Management Inc. owned 0.09% of Asbury Automotive Group worth $4,184,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new position in Asbury Automotive Group in the third quarter valued at $804,000. Intech Investment Management LLC acquired a new position in Asbury Automotive Group in the third quarter valued at $1,223,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Asbury Automotive Group in the fourth quarter valued at $221,000. Empirical Asset Management LLC acquired a new position in Asbury Automotive Group in the fourth quarter valued at $484,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Asbury Automotive Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock valued at $51,465,000 after buying an additional 3,273 shares during the period.

Insider Buying and Selling

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.

Remove Ads

Asbury Automotive Group Price Performance

NYSE ABG traded up $1.34 during trading hours on Wednesday, reaching $233.85. 157,424 shares of the stock traded hands, compared to its average volume of 178,932. The stock has a 50 day simple moving average of $268.14 and a two-hundred day simple moving average of $250.50. Asbury Automotive Group, Inc. has a 1 year low of $206.62 and a 1 year high of $312.56. 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 company has a market cap of $4.59 billion, a price-to-earnings ratio of 10.87 and a beta of 1.22.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ABG shares. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $260.00 to $255.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Stephens upped their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Craig Hallum lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $264.00.

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.