Short Interest in Asbury Automotive Group, Inc. (NYSE:ABG) Drops By 12.9%

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 1,760,000 shares, a decrease of 12.9% from the January 15th total of 2,020,000 shares. Approximately 9.1% of the company's stock are sold short. Based on an average daily volume of 184,400 shares, the days-to-cover ratio is presently 9.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABG. Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. StockNews.com upgraded Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $260.00 to $255.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Stephens increased 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. Finally, Seaport Res Ptn lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $264.00.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Asbury Automotive Group

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Asbury Automotive Group during the third quarter valued at $804,000. Intech Investment Management LLC acquired a new stake in shares of Asbury Automotive Group during the third quarter valued at $1,223,000. Empirical Asset Management LLC acquired a new stake in shares of Asbury Automotive Group during the fourth quarter valued at $484,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Asbury Automotive Group during the fourth quarter valued at $221,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Asbury Automotive Group during the third quarter valued at $154,270,000.

Asbury Automotive Group Price Performance

Shares of ABG traded down $6.14 during trading hours on Thursday, reaching $288.36. 149,657 shares of the company traded hands, compared to its average volume of 203,302. 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 has a market capitalization of $5.65 billion, a PE ratio of 13.41 and a beta of 1.20. Asbury Automotive Group has a fifty-two week low of $202.98 and a fifty-two week high of $312.56. The stock has a fifty day simple moving average of $264.56 and a 200 day simple moving average of $247.65.

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.