New York State Common Retirement Fund Sells 9,704 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

New York State Common Retirement Fund decreased its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 12.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,256 shares of the company's stock after selling 9,704 shares during the quarter. New York State Common Retirement Fund owned approximately 0.33% of Asbury Automotive Group worth $15,808,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABG. Quarry LP bought a new stake in Asbury Automotive Group during the 2nd quarter worth approximately $38,000. GAMMA Investing LLC increased its stake in shares of Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock valued at $67,000 after buying an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Asbury Automotive Group in the second quarter valued at about $155,000. Headlands Technologies LLC acquired a new position in Asbury Automotive Group during the 2nd quarter worth about $190,000. Finally, Innealta Capital LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter valued at about $194,000.

Asbury Automotive Group Trading Up 7.1 %

Shares of ABG stock traded up $17.16 on Wednesday, reaching $259.20. The company had a trading volume of 358,676 shares, compared to its average volume of 185,716. The company has a 50-day moving average of $229.40 and a 200-day moving average of $232.09. Asbury Automotive Group, Inc. has a 12 month low of $195.09 and a 12 month high of $277.13. The stock has a market cap of $5.08 billion, a PE ratio of 13.70 and a beta of 1.16. 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 (NYSE:ABG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $8.12 earnings per share. The company's revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 25.59 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on ABG shares. Morgan Stanley raised shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America decreased their price objective 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. Stephens started coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $216.00 target price for the company. StockNews.com upgraded Asbury Automotive Group from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Craig Hallum boosted their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has given 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.

Insider Buying and Selling at Asbury Automotive Group

In other news, CEO David W. Hult sold 500 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the sale, the chief executive officer now owns 56,834 shares of the company's stock, valued at $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO David W. Hult sold 500 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares of the company's stock, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares of the company's stock, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

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.