Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,548 shares of the company’s stock after selling 77 shares during the period. Jennison Associates LLC’s holdings in Asbury Automotive Group were worth $1,288,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ABG. Advisor Group Holdings Inc. increased its holdings in Asbury Automotive Group by 86.2% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,709 shares of the company’s stock valued at $293,000 after acquiring an additional 791 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Asbury Automotive Group by 175.8% in the second quarter. HighTower Advisors LLC now owns 4,777 shares of the company’s stock worth $818,000 after acquiring an additional 3,045 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Asbury Automotive Group by 23,400.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 470 shares of the company’s stock worth $81,000 after acquiring an additional 468 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Asbury Automotive Group by 49.9% during the second quarter. Rafferty Asset Management LLC now owns 5,713 shares of the company’s stock valued at $979,000 after buying an additional 1,903 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Asbury Automotive Group by 1,000.0% during the second quarter. Rockefeller Capital Management L.P. now owns 220 shares of the company’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 86.78% of the company’s stock.

A number of research analysts have recently commented on ABG shares. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $200.00 target price on the stock in a research report on Tuesday, January 4th. Morgan Stanley lowered their target price on shares of Asbury Automotive Group from $205.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 17th. Craig Hallum upped their price target on shares of Asbury Automotive Group from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 30th. Truist Securities upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Thursday, September 30th. Finally, Truist raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $210.00 to $250.00 in a report on Thursday, September 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Buy” and an average price target of $217.86.

Shares of ABG stock opened at $167.21 on Friday. The stock has a market cap of $3.87 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 0.31 and a beta of 1.53. Asbury Automotive Group, Inc. has a one year low of $137.96 and a one year high of $230.96. The stock has a fifty day moving average price of $170.33 and a 200 day moving average price of $182.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.75 and a quick ratio of 1.12.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Monday, October 25th. The company reported $7.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.36 by $1.00. Asbury Automotive Group had a return on equity of 43.39% and a net margin of 5.11%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company posted $4.08 earnings per share. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities research analysts anticipate that Asbury Automotive Group, Inc. will post 25.65 EPS for the current year.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc operates as a holding company, which engages in the automotive dealership. Its services include oil change, car brakes, changing tires, check engine light, battery, and wheel alignment. The company was founded in 1995 and is headquartered in Duluth, GA.

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

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