Highland Capital Management LLC Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Highland Capital Management LLC bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 888 shares of the company's stock, valued at approximately $216,000.

A number of other institutional investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in Asbury Automotive Group in the third quarter worth $31,000. Quarry LP acquired a new stake in Asbury Automotive Group in the 2nd quarter worth about $38,000. GAMMA Investing LLC grew its stake in Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company's stock worth $94,000 after buying an additional 101 shares in the last quarter. KBC Group NV increased its stake 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 during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Asbury Automotive Group by 17.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 839 shares of the company's stock valued at $204,000 after acquiring an additional 123 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABG shares. Bank of America reduced their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Seaport Res Ptn downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Craig Hallum increased their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. StockNews.com raised shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $260.00 to $255.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $255.20.

Asbury Automotive Group Trading Up 1.1 %

ABG traded up $3.11 during mid-day trading on Tuesday, hitting $292.48. 78,262 shares of the stock were exchanged, compared to its average volume of 223,109. The company has a market cap of $5.73 billion, a PE ratio of 13.59 and a beta of 1.20. The firm's fifty day moving average is $254.61 and its two-hundred day moving average is $243.35. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $312.56. 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 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.