Jefferies Financial Group Inc. Invests $1.23 Million in Asbury Automotive Group, Inc. $ABG

Jefferies Financial Group Inc. purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,122 shares of the company’s stock, valued at approximately $1,231,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in Asbury Automotive Group in the 4th quarter valued at $25,000. Quarry LP grew its holdings in shares of Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 83 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after purchasing an additional 54 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Asbury Automotive Group by 76.5% in the fourth quarter. Farther Finance Advisors LLC now owns 143 shares of the company’s stock valued at $33,000 after buying an additional 62 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at $34,000.

Asbury Automotive Group Stock Up 0.4%

Shares of ABG opened at $212.40 on Monday. The business’s fifty day moving average price is $214.02 and its two-hundred day moving average price is $205.49. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.81 and a beta of 0.71. Asbury Automotive Group, Inc. has a 52 week low of $172.01 and a 52 week high of $262.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the company posted $7.43 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that Asbury Automotive Group, Inc. will post 26.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABG shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Friday, July 24th. UBS Group set a $250.00 price objective on shares of Asbury Automotive Group in a report on Wednesday, July 29th. Citigroup raised their price objective on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Stephens reaffirmed an “overweight” rating and issued a $242.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Finally, Morgan Stanley upped their target price on shares of Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $246.71.

Insider Transactions at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. This trade represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% 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.