Asbury Automotive Group (NYSE:ABG) Trading Down 3.2% - Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) was down 3.2% during mid-day trading on Monday . The stock traded as low as $220.23 and last traded at $220.99. Approximately 21,898 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 197,644 shares. The stock had previously closed at $228.28.

Wall Street Analyst Weigh In

ABG has been the subject of several analyst reports. Stephens raised their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Asbury Automotive Group presently has a consensus rating of "Hold" and an average price target of $263.00.

Asbury Automotive Group Price Performance

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 firm has a market capitalization of $4.29 billion, a PE ratio of 10.16 and a beta of 1.04. The business's 50 day moving average is $247.60 and its two-hundred day moving average is $249.59.

Insider Activity

In other news, COO Daniel Clara sold 1,217 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several institutional investors have recently bought and sold shares of the stock. Madison Investment Advisors LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $82,426,000. Norges Bank purchased a new stake in Asbury Automotive Group during the 4th quarter valued at $82,079,000. Artisan Partners Limited Partnership purchased a new stake in Asbury Automotive Group during the 4th quarter valued at $51,118,000. GAMMA Investing LLC grew its holdings in Asbury Automotive Group by 30,639.2% in the 1st quarter. GAMMA Investing LLC now owns 129,412 shares of the company's stock worth $285,790,000 after acquiring an additional 128,991 shares during the last quarter. Finally, Eminence Capital LP increased its position in shares of Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company's stock valued at $191,453,000 after acquiring an additional 107,317 shares during the period.

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.