Verition Fund Management LLC Has $1.81 Million Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Verition Fund Management LLC trimmed its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 49.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,600 shares of the company's stock after selling 7,518 shares during the quarter. Verition Fund Management LLC's holdings in Asbury Automotive Group were worth $1,813,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ABG. Harbor Capital Advisors Inc. bought a new stake in shares of Asbury Automotive Group in the third quarter valued at approximately $31,000. Quarry LP bought a new stake in shares of Asbury Automotive Group during the 2nd quarter valued at $38,000. GAMMA Investing LLC grew its holdings in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter worth $155,000. Finally, Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group in the second quarter worth $190,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ABG shares. StockNews.com upgraded shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Craig Hallum increased their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Morgan Stanley upgraded Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $256.20.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock traded down $0.18 during mid-day trading on Friday, reaching $258.98. The company had a trading volume of 99,625 shares, compared to its average volume of 183,321. The business has a fifty day simple moving average of $243.74 and a 200 day simple moving average of $237.70. The company has a market cap of $5.07 billion, a P/E ratio of 14.66 and a beta of 1.18. 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 fifty-two week low of $195.09 and a fifty-two week high of $277.13.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its 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 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 period in the previous year, the company earned $8.12 EPS. Asbury Automotive Group's revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Asbury Automotive Group Company 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.