Bank of New York Mellon Corp cut its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,870 shares of the company's stock after selling 11,195 shares during the quarter. Bank of New York Mellon Corp owned about 0.84% of Asbury Automotive Group worth $40,068,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Asbury Automotive Group during the 3rd quarter valued at about $31,000. KBC Group NV grew its position in Asbury Automotive Group by 52.3% in the fourth quarter. KBC Group NV now owns 769 shares of the company's stock valued at $187,000 after acquiring an additional 264 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Asbury Automotive Group by 17.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 839 shares of the company's stock valued at $204,000 after purchasing an additional 123 shares during the period. Stephens Inc. AR acquired a new position in Asbury Automotive Group in the 4th quarter worth $213,000. Finally, Highland Capital Management LLC acquired a new position in shares of Asbury Automotive Group in the fourth quarter worth about $216,000.
Analyst Upgrades and Downgrades
ABG has been the subject of a number of recent analyst reports. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased 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 report on Friday, January 17th. Stephens boosted their target price on shares of 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, Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $264.00.
Check Out Our Latest Stock Analysis on Asbury Automotive Group
Asbury Automotive Group Stock Performance
Asbury Automotive Group stock traded down $6.71 during mid-day trading on Monday, reaching $248.13. The company's stock had a trading volume of 207,997 shares, compared to its average volume of 178,644. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a twelve month low of $202.98 and a twelve month high of $312.56. The business has a 50 day moving average price of $268.46 and a 200-day moving average price of $250.65. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 11.54 and a beta of 1.22.
Insider Activity
In related news, COO Daniel Clara sold 1,217 shares of the firm'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 sale, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.
Asbury Automotive Group Profile
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Free Report)
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.
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