Asbury Automotive Group, Inc. $ABG Shares Sold by Lakewood Capital Management LP

Lakewood Capital Management LP reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,129 shares of the company’s stock after selling 6,500 shares during the quarter. Asbury Automotive Group comprises about 2.0% of Lakewood Capital Management LP’s investment portfolio, making the stock its 21st biggest position. Lakewood Capital Management LP’s holdings in Asbury Automotive Group were worth $26,188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Asbury Automotive Group during the second quarter worth about $77,544,000. Eminence Capital LP lifted its stake in shares of Asbury Automotive Group by 36.0% in the 2nd quarter. Eminence Capital LP now owns 1,002,160 shares of the company’s stock valued at $239,055,000 after purchasing an additional 265,539 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Asbury Automotive Group by 545.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 143,388 shares of the company’s stock valued at $35,051,000 after purchasing an additional 121,183 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Asbury Automotive Group by 261.7% during the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 shares during the period. Finally, River Road Asset Management LLC grew its holdings in shares of Asbury Automotive Group by 122.0% during the 2nd quarter. River Road Asset Management LLC now owns 199,952 shares of the company’s stock worth $44,413,000 after purchasing an additional 109,896 shares during the period.

Wall Street Analyst Weigh In

ABG has been the topic of several research reports. Bank of America assumed coverage on shares of Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Morgan Stanley set a $230.00 price objective on shares of Asbury Automotive Group in a research note on Monday, December 8th. Weiss Ratings lowered shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Finally, Barclays cut their target price on shares of Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research note on Friday, February 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $247.57.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $196.37 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. Asbury Automotive Group, Inc. has a 1-year low of $194.80 and a 1-year high of $274.50. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.83 and a beta of 0.81. The business has a 50-day moving average of $229.34 and a 200-day moving average of $236.04.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing the consensus estimate of $6.70 by ($0.03). The company had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.26 earnings per share. On average, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other news, Director B. Christopher Disantis acquired 500 shares of the stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $202.30 per share, with a total value of $101,150.00. Following the completion of the transaction, the director directly owned 5,400 shares of the company’s stock, valued at $1,092,420. The trade was a 10.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is owned by company insiders.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.