Assenagon Asset Management S.A. Has $45.23 Million Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Assenagon Asset Management S.A. grew its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 366.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 189,586 shares of the company's stock after purchasing an additional 148,910 shares during the quarter. Assenagon Asset Management S.A. owned 0.94% of Asbury Automotive Group worth $45,233,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Argent Capital Management LLC increased its position in shares of Asbury Automotive Group by 5.1% during the 3rd quarter. Argent Capital Management LLC now owns 13,287 shares of the company's stock valued at $3,170,000 after purchasing an additional 640 shares during the period. Moody Aldrich Partners LLC grew its holdings in shares of Asbury Automotive Group by 17.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 10,830 shares of the company's stock worth $2,584,000 after acquiring an additional 1,627 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Asbury Automotive Group in the 3rd quarter worth $154,270,000. Creative Planning grew its holdings in shares of Asbury Automotive Group by 5.1% in the 3rd quarter. Creative Planning now owns 4,129 shares of the company's stock worth $985,000 after acquiring an additional 200 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Asbury Automotive Group by 13.0% in the 3rd quarter. Inspire Investing LLC now owns 1,734 shares of the company's stock worth $414,000 after acquiring an additional 199 shares during the last quarter.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now owns 56,834 shares of the company's stock, valued at $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the business's 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 completion of the sale, the insider now directly owns 2,008,649 shares of the company's stock, valued at $453,211,473.87. This 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.

Asbury Automotive Group Stock Down 1.0 %

Shares of ABG stock traded down $2.27 on Friday, reaching $222.87. 192,980 shares of the company's stock traded hands, compared to its average volume of 181,076. Asbury Automotive Group, Inc. has a 12-month low of $184.47 and a 12-month high of $277.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25. The company has a market capitalization of $4.50 billion, a P/E ratio of 8.20 and a beta of 1.16. The business's 50 day moving average price is $230.02 and its two-hundred day moving average price is $231.19.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.31 by ($0.91). The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. Asbury Automotive Group's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.95 EPS. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 26.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABG has been the topic of a number of recent research reports. Bank of America decreased their target price on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a report on Monday, October 14th. StockNews.com cut Asbury Automotive Group from a "hold" rating to a "sell" rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a "neutral" rating in a report on Tuesday, September 10th. Stephens initiated coverage on Asbury Automotive Group in a report on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price target on the stock. Finally, Morgan Stanley upgraded Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $251.20.

Asbury Automotive Group 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.