Readystate Asset Management LP Purchases Shares of 2,228 Asbury Automotive Group, Inc. (NYSE:ABG)

Readystate Asset Management LP acquired a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,228 shares of the company's stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System increased its position in shares of Asbury Automotive Group by 1.0% in the second quarter. Arizona State Retirement System now owns 5,141 shares of the company's stock valued at $1,171,000 after buying an additional 51 shares in the last quarter. Oak Associates Ltd. OH grew its holdings in Asbury Automotive Group by 1.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company's stock valued at $831,000 after buying an additional 51 shares in the last quarter. HighTower Advisors LLC grew its holdings in Asbury Automotive Group by 3.2% in the 3rd quarter. HighTower Advisors LLC now owns 1,720 shares of the company's stock valued at $409,000 after buying an additional 53 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Asbury Automotive Group by 3.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company's stock valued at $440,000 after buying an additional 57 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in Asbury Automotive Group by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company's stock valued at $690,000 after buying an additional 66 shares in the last quarter.

Asbury Automotive Group Trading Down 0.1 %

ABG traded down $0.18 during mid-day trading on Friday, hitting $258.98. 99,625 shares of the stock were exchanged, compared to its average volume of 183,321. The firm's fifty day moving average is $243.74 and its two-hundred day moving average is $237.70. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The company has a market cap of $5.07 billion, a PE ratio of 14.66 and a beta of 1.18.

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 (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. Asbury Automotive Group's revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $8.12 EPS. Equities analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America dropped their target price on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating for the company in a report on Monday, October 14th. Seaport Res Ptn lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Craig Hallum upped their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Morgan Stanley raised Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, Stephens assumed coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $216.00 price target on the stock. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $256.20.

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.