Barclays PLC Trims Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Barclays PLC lessened its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,187 shares of the company's stock after selling 4,457 shares during the period. Barclays PLC owned about 0.17% of Asbury Automotive Group worth $8,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in Asbury Automotive Group in the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC raised its position in Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after acquiring an additional 41 shares during the period. Smartleaf Asset Management LLC grew its holdings in Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock valued at $122,000 after purchasing an additional 351 shares during the period. Headlands Technologies LLC increased its holdings in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after acquiring an additional 443 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Asbury Automotive Group by 801.4% during the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after purchasing an additional 561 shares during the period.

Insider Buying and Selling at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Asbury Automotive Group Stock Performance

Shares of ABG stock traded down $9.25 during mid-day trading on Tuesday, reaching $215.20. The stock had a trading volume of 94,534 shares, compared to its average volume of 201,800. 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 business's fifty day moving average is $236.52 and its 200-day moving average is $249.62. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 9.99 and a beta of 1.04.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company posted $7.21 earnings per share. The business's revenue was down 1.3% on a year-over-year basis. On average, research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABG. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Citigroup initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 target price for the company. Stephens upped their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note 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 note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $258.50.

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.