Madison Asset Management LLC Sells 37,405 Shares of Asbury Automotive Group, Inc. $ABG

Madison Asset Management LLC reduced its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 10.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 308,875 shares of the company’s stock after selling 37,405 shares during the quarter. Madison Asset Management LLC’s holdings in Asbury Automotive Group were worth $60,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABG. Los Angeles Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter worth about $25,000. Torren Management LLC bought a new position in Asbury Automotive Group during the 4th quarter valued at about $27,000. Quarry LP lifted its holdings in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 83 shares during the last quarter. Bogart Wealth LLC boosted its position in Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after buying an additional 44 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after buying an additional 54 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABG shares. Barclays cut their target price on shares of Asbury Automotive Group from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings cut Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Stephens reiterated an “overweight” rating and issued a $242.00 price objective on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. UBS Group boosted their price objective on Asbury Automotive Group from $202.00 to $221.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Finally, Citigroup decreased their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $233.12.

Insiders Place Their Bets

In related news, Director B. Christopher Disantis acquired 157 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $182.31 per share, for a total transaction of $28,622.67. Following the transaction, the director directly owned 6,400 shares of the company’s stock, valued at approximately $1,166,784. This trade represents a 2.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by company insiders.

Asbury Automotive Group Trading Down 4.7%

ABG opened at $209.90 on Tuesday. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $263.38. The stock has a market capitalization of $3.91 billion, a PE ratio of 7.43, a PEG ratio of 1.29 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $198.25 and a two-hundred day moving average price of $210.00.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the previous year, the company posted $6.82 earnings per share. Asbury Automotive Group’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 25.82 earnings per share for the current fiscal year.

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.