UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 81,223 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 66.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,145 shares of the company's stock after selling 81,223 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Asbury Automotive Group worth $9,578,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in shares of Asbury Automotive Group during the third quarter worth about $31,000. Quarry LP bought a new stake in Asbury Automotive Group in the second quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company's stock worth $94,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Asbury Automotive Group in the second quarter worth approximately $155,000. Finally, Headlands Technologies LLC bought a new stake in Asbury Automotive Group in the second quarter worth approximately $190,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley raised Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America reduced their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating for the company in a research note on Monday, October 14th. StockNews.com raised Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Finally, Seaport Res Ptn cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $256.20.

Asbury Automotive Group Stock Down 0.5 %

Shares of NYSE:ABG traded down $1.24 during mid-day trading on Monday, hitting $257.74. 126,368 shares of the company traded hands, compared to its average volume of 183,081. The stock has a 50-day moving average price of $244.12 and a two-hundred day moving average price of $237.91. 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, Inc. has a 12-month low of $195.09 and a 12-month high of $277.13. The stock has a market cap of $5.05 billion, a P/E ratio of 14.59 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the firm posted $8.12 EPS. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

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.