Voss Capital LP Decreases Holdings in Asbury Automotive Group, Inc. $ABG

Voss Capital LP cut its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 29.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the company’s stock after selling 37,283 shares during the quarter. Asbury Automotive Group comprises about 1.1% of Voss Capital LP’s investment portfolio, making the stock its 25th biggest position. Voss Capital LP owned 0.46% of Asbury Automotive Group worth $22,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP grew its stake in shares of Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 83 shares in the last quarter. Osaic Holdings Inc. lifted its position in Asbury Automotive Group by 69.2% during the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after acquiring an additional 54 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Asbury Automotive Group by 64.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock worth $49,000 after acquiring an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Asbury Automotive Group by 104.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company’s stock worth $80,000 after acquiring an additional 172 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Asbury Automotive Group by 466.7% in the 3rd quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $107,000 after acquiring an additional 364 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective 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. Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a research note on Monday, December 8th. Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Finally, Bank of America initiated coverage on Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $247.57.

Asbury Automotive Group Price Performance

Shares of ABG stock opened at $189.62 on Wednesday. The firm has a market cap of $3.65 billion, a P/E ratio of 7.56 and a beta of 0.81. 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 $188.97 and a 1-year high of $274.50. The firm has a fifty day moving average of $227.30 and a two-hundred day moving average of $234.86.

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

Insiders Place Their Bets

In other news, Director B. Christopher Disantis acquired 500 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $202.30 per share, with a total value of $101,150.00. Following the completion of the acquisition, the director directly owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate 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.