Hsbc Holdings PLC reduced its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 90.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,435 shares of the company’s stock after selling 63,940 shares during the quarter. Hsbc Holdings PLC’s holdings in Asbury Automotive Group were worth $435,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ABG. Victory Capital Management Inc. boosted its holdings in shares of Asbury Automotive Group by 13,449.2% in the 1st quarter. Victory Capital Management Inc. now owns 454,711 shares of the company’s stock worth $30,693,000 after acquiring an additional 451,355 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Asbury Automotive Group in the 4th quarter worth approximately $19,860,000. JPMorgan Chase & Co. boosted its holdings in shares of Asbury Automotive Group by 174.1% in the 1st quarter. JPMorgan Chase & Co. now owns 287,276 shares of the company’s stock worth $19,391,000 after acquiring an additional 182,456 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Asbury Automotive Group by 14.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 722,090 shares of the company’s stock worth $46,214,000 after acquiring an additional 90,927 shares in the last quarter. Finally, Abrams Capital Management L.P. boosted its holdings in shares of 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 in the last quarter.
Several research analysts have recently commented on the company. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, May 16th. Morgan Stanley boosted their target price on Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, March 14th. ValuEngine downgraded Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Buckingham Research boosted their target price on Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, April 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $67.33.
In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $73.51, for a total transaction of $1,102,650.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP George A. Villasana sold 13,263 shares of the company’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $73.38, for a total value of $973,238.94. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Asbury Automotive Group opened at $74.95 on Wednesday, MarketBeat reports. Asbury Automotive Group, Inc. has a 52-week low of $49.10 and a 52-week high of $76.40. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.38 and a current ratio of 1.20. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.05 and a beta of 1.54.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, April 24th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Asbury Automotive Group had a return on equity of 38.22% and a net margin of 2.23%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $1.58 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. analysts expect that Asbury Automotive Group, Inc. will post 7.81 earnings per share for the current year.
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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