Harber Asset Management LLC Buys New Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Harber Asset Management LLC purchased a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,303 shares of the company's stock, valued at approximately $4,934,000. Harber Asset Management LLC owned about 0.10% of Asbury Automotive Group at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after acquiring an additional 41 shares in the last quarter. Bank of Montreal Can raised its stake in Asbury Automotive Group by 2.0% in the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock worth $608,000 after buying an additional 48 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in Asbury Automotive Group by 2.4% during the third quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company's stock worth $506,000 after buying an additional 50 shares during the period. HighTower Advisors LLC boosted its position in Asbury Automotive Group by 3.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,720 shares of the company's stock valued at $409,000 after acquiring an additional 53 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of Asbury Automotive Group by 3.7% in the 4th quarter. Mariner LLC now owns 1,856 shares of the company's stock valued at $451,000 after acquiring an additional 67 shares during the period.

Insider Activity

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABG shares. Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Stephens lifted 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 research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased their target price 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Asbury Automotive Group currently has an average rating of "Hold" and an average price target of $263.00.

Asbury Automotive Group Stock Performance

NYSE:ABG traded up $1.69 during trading hours on Friday, hitting $218.47. 161,047 shares of the company were exchanged, compared to its average volume of 199,115. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 10.16 and a beta of 1.04. The company's 50 day moving average price is $247.60 and its 200-day moving average price is $249.59.

Asbury Automotive Group 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.