Bank of New York Mellon Corp lessened its position in shares of Asbury Automotive Group Inc (NYSE:ABG) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 276,055 shares of the company’s stock after selling 2,145 shares during the quarter. Bank of New York Mellon Corp owned about 1.32% of Asbury Automotive Group worth $15,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Asbury Automotive Group during the 1st quarter valued at approximately $104,000. Victory Capital Management Inc. raised its position in shares of Asbury Automotive Group by 45.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock valued at $113,000 after buying an additional 587 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Asbury Automotive Group by 4.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock valued at $200,000 after buying an additional 132 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Asbury Automotive Group during the 1st quarter valued at approximately $210,000. Finally, State of Alaska Department of Revenue raised its position in shares of Asbury Automotive Group by 78.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock valued at $210,000 after buying an additional 1,634 shares during the period. 99.89% of the stock is currently owned by hedge funds and other institutional investors.

In other Asbury Automotive Group news, insider William Frederick Stax sold 495 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $54.25, for a total transaction of $26,853.75. Following the transaction, the insider now owns 4,586 shares of the company’s stock, valued at $248,790.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis E. Clements sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $58.66, for a total transaction of $293,300.00. Following the transaction, the director now directly owns 20,531 shares in the company, valued at approximately $1,204,348.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,444 shares of company stock worth $5,700,889. 11.90% of the stock is currently owned by insiders.

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Several analysts have recently commented on the stock. BidaskClub raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Zacks Investment Research lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. ValuEngine lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley reduced their price target on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $57.80.

Shares of Asbury Automotive Group Inc (NYSE:ABG) opened at 58.75 on Thursday. Asbury Automotive Group Inc has a 12 month low of $47.50 and a 12 month high of $71.00. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 7.64 and a beta of 1.42. The firm has a 50-day moving average price of $53.69 and a 200-day moving average price of $56.92.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($0.09). The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 EPS. Equities analysts expect that Asbury Automotive Group Inc will post $6.34 EPS for the current fiscal year.

About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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