BlackRock Inc. boosted its holdings in Asbury Automotive Group (NYSE:ABG) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,517,622 shares of the company’s stock after buying an additional 20,767 shares during the quarter. BlackRock Inc. owned approximately 12.09% of Asbury Automotive Group worth $161,128,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Asbury Automotive Group by 39.1% during the 3rd quarter. Victory Capital Management Inc. now owns 3,067 shares of the company’s stock worth $187,000 after purchasing an additional 862 shares in the last quarter. Balter Liquid Alternatives LLC acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at $200,000. Ingalls & Snyder LLC acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at $218,000. Parametrica Management Ltd boosted its holdings in shares of Asbury Automotive Group by 29.4% in the 4th quarter. Parametrica Management Ltd now owns 4,719 shares of the company’s stock valued at $302,000 after purchasing an additional 1,071 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Asbury Automotive Group during the 4th quarter valued at $414,000.
Shares of NYSE ABG traded up $0.20 during trading hours on Thursday, hitting $67.25. 114,104 shares of the stock were exchanged, compared to its average volume of 202,833. The company has a current ratio of 1.23, a quick ratio of 0.45 and a debt-to-equity ratio of 2.19. Asbury Automotive Group has a one year low of $49.10 and a one year high of $76.40. The company has a market cap of $1,422.10, a P/E ratio of 10.54, a P/E/G ratio of 0.84 and a beta of 1.55.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 39.80%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 EPS. equities research analysts forecast that Asbury Automotive Group will post 7.52 EPS for the current fiscal year.
In other news, Director Craig T. Monaghan sold 15,000 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total value of $1,028,550.00. Following the sale, the director now directly owns 86,112 shares in the company, valued at $5,904,699.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juanita T. James sold 1,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $66.18, for a total transaction of $66,180.00. The disclosure for this sale can be found here. Insiders sold a total of 50,825 shares of company stock worth $3,488,688 in the last ninety days. Insiders own 1.90% of the company’s stock.
A number of brokerages have commented on ABG. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, March 14th. Finally, Craig Hallum boosted their target price on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.00.
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Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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