BlueCrest Capital Management Ltd lessened its holdings in Asbury Automotive Group (NYSE:ABG) by 92.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,410 shares of the company’s stock after selling 42,791 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Asbury Automotive Group were worth $218,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Abrams Capital Management L.P. grew its stake in Asbury Automotive Group by 8.5% in the 4th quarter. Abrams Capital Management L.P. now owns 1,085,091 shares of the company’s stock worth $69,446,000 after acquiring an additional 85,091 shares during the period. Koch Industries Inc. boosted its holdings in shares of Asbury Automotive Group by 29.5% in the 4th quarter. Koch Industries Inc. now owns 5,200 shares of the company’s stock valued at $333,000 after purchasing an additional 1,184 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Asbury Automotive Group by 105.6% during the 4th quarter. Alliancebernstein L.P. now owns 55,751 shares of the company’s stock valued at $3,568,000 after acquiring an additional 28,630 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Asbury Automotive Group by 2.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 842,303 shares of the company’s stock valued at $53,907,000 after acquiring an additional 18,830 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Asbury Automotive Group by 10.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 9,013 shares of the company’s stock valued at $577,000 after acquiring an additional 856 shares in the last quarter.
A number of brokerages have commented on ABG. Craig Hallum boosted their price objective on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday. Finally, Morgan Stanley upped their price target on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $65.00.
In related news, Director Juanita T. James sold 1,000 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $66.18, for a total transaction of $66,180.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,028,550.00. Following the completion of the transaction, the director now directly owns 86,112 shares in the company, valued at approximately $5,904,699.84. 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.
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.
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Asbury Automotive Group 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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