JPMorgan Chase & Co. grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,306 shares of the company's stock after acquiring an additional 29,579 shares during the quarter. JPMorgan Chase & Co. owned 0.95% of Asbury Automotive Group worth $45,278,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Artisan Partners Limited Partnership bought a new stake in Asbury Automotive Group in the 4th quarter valued at $51,118,000. EntryPoint Capital LLC raised its position in shares of Asbury Automotive Group by 38.4% during the fourth quarter. EntryPoint Capital LLC now owns 1,283 shares of the company's stock valued at $312,000 after buying an additional 356 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Asbury Automotive Group by 12.4% in the fourth quarter. LPL Financial LLC now owns 4,638 shares of the company's stock valued at $1,127,000 after buying an additional 512 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Asbury Automotive Group during the fourth quarter worth about $924,000. Finally, Sei Investments Co. increased its stake in Asbury Automotive Group by 1.6% during the fourth quarter. Sei Investments Co. now owns 18,290 shares of the company's stock valued at $4,445,000 after acquiring an additional 292 shares during the period.
Wall Street Analyst Weigh In
A number of analysts have commented on ABG shares. Stephens raised their price objective on 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. Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and a consensus price target of $263.00.
Check Out Our Latest Research Report on ABG
Insiders Place Their Bets
In other news, COO Daniel Clara sold 1,217 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were 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 represents a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.
Asbury Automotive Group Price Performance
Shares of Asbury Automotive Group stock traded up $4.50 during midday trading on Friday, hitting $228.22. 292,783 shares of the company were exchanged, compared to its average volume of 198,255. The firm has a 50 day simple moving average of $255.17 and a 200-day simple moving average of $250.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The firm has a market cap of $4.48 billion, a P/E ratio of 10.61 and a beta of 1.04. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56.
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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