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

Eminence Capital LP cut its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 972,405 shares of the company’s stock after selling 29,755 shares during the period. Asbury Automotive Group accounts for about 2.9% of Eminence Capital LP’s investment portfolio, making the stock its 9th biggest position. Eminence Capital LP owned approximately 5.00% of Asbury Automotive Group worth $237,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ABG. AQR Capital Management LLC increased its holdings in shares of Asbury Automotive Group by 11.0% in the first quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after purchasing an additional 619 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after buying an additional 91,767 shares during the period. United Services Automobile Association bought a new stake in shares of Asbury Automotive Group during the first quarter worth $265,000. Empowered Funds LLC raised its position in shares of Asbury Automotive Group by 11.4% during the first quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock worth $1,687,000 after acquiring an additional 783 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Asbury Automotive Group by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company’s stock valued at $11,316,000 after acquiring an additional 1,676 shares during the period.

Wall Street Analysts Forecast Growth

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

Asbury Automotive Group Trading Down 0.2%

NYSE ABG opened at $196.37 on Friday. Asbury Automotive Group, Inc. has a one year low of $194.80 and a one year high of $274.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. The firm has a market cap of $3.78 billion, a P/E ratio of 7.83 and a beta of 0.81. The stock’s 50-day moving average is $229.34 and its 200-day moving average is $235.91.

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

Insider Buying and Selling at Asbury Automotive Group

In related news, Director B. Christopher Disantis purchased 500 shares of Asbury Automotive Group stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of $202.30 per share, for a total transaction of $101,150.00. Following the completion of the acquisition, the director directly owned 5,400 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is owned by company insiders.

About Asbury Automotive Group

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.