Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 51.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,727 shares of the company's stock after selling 162,974 shares during the period. JPMorgan Chase & Co. owned approximately 0.80% of Asbury Automotive Group worth $37,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company's stock valued at $240,818,000 after buying an additional 69,975 shares during the period. State Street Corp lifted its position in shares of Asbury Automotive Group by 0.5% during the third quarter. State Street Corp now owns 801,391 shares of the company's stock worth $191,204,000 after purchasing an additional 3,672 shares in the last quarter. Eminence Capital LP lifted its position in shares of Asbury Automotive Group by 41.5% during the second 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Asbury Automotive Group by 366.1% in the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company's stock valued at $45,233,000 after purchasing an additional 148,910 shares during the period. Finally, Natixis Advisors LLC acquired a new position in shares of Asbury Automotive Group in the third quarter valued at approximately $26,573,000.

Asbury Automotive Group Stock Up 1.9 %

Shares of NYSE:ABG traded up $4.46 on Tuesday, hitting $241.51. 135,361 shares of the company's stock were exchanged, compared to its average volume of 147,815. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13. The company has a market capitalization of $4.73 billion, a PE ratio of 13.67 and a beta of 1.19. 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 firm's 50-day moving average is $251.83 and its 200 day moving average is $239.87.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (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 during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $8.12 earnings per share. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts predict that Asbury Automotive Group, Inc. will post 25.17 EPS for the current year.

Wall Street Analysts Forecast Growth

ABG has been the topic of a number of research reports. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an "equal weight" rating and a $216.00 target price on the stock. StockNews.com upgraded Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Craig Hallum boosted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Bank of America reduced their price target on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Morgan Stanley raised 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 report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $256.20.

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.