Holocene Advisors LP decreased its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 54.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,868 shares of the company's stock after selling 3,491 shares during the quarter. Holocene Advisors LP's holdings in Asbury Automotive Group were worth $684,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Asbury Automotive Group by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company's stock worth $240,818,000 after purchasing an additional 69,975 shares in the last quarter. Eminence Capital LP increased its stake in shares of Asbury Automotive Group by 41.5% during the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company's stock worth $113,603,000 after purchasing an additional 146,246 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Asbury Automotive Group by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company's stock worth $45,065,000 after purchasing an additional 7,754 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Asbury Automotive Group by 366.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company's stock worth $45,233,000 after buying an additional 148,910 shares during the period. Finally, Natixis Advisors LLC bought a new position in Asbury Automotive Group in the 3rd quarter valued at $26,573,000.
Wall Street Analyst Weigh In
ABG has been the topic of several research reports. StockNews.com upgraded shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Craig Hallum boosted their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Finally, Seaport Res Ptn downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $256.20.
Get Our Latest Stock Analysis on ABG
Asbury Automotive Group Stock Performance
Shares of ABG traded down $0.18 during mid-day trading on Friday, hitting $258.98. 99,651 shares of the company traded hands, compared to its average volume of 151,438. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The stock has a 50-day moving average price of $243.74 and a two-hundred day moving average price of $237.71. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 14.66 and a beta of 1.18.
Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts' consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the company posted $8.12 earnings per share. The firm's quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.
About Asbury Automotive Group
(
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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