State of Alaska Department of Revenue Acquires 9,707 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

State of Alaska Department of Revenue raised its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 140.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,615 shares of the company’s stock after buying an additional 9,707 shares during the quarter. State of Alaska Department of Revenue owned about 0.09% of Asbury Automotive Group worth $1,699,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ABG. Artemis Investment Management LLP grew its position in shares of Asbury Automotive Group by 131.2% in the 2nd quarter. Artemis Investment Management LLP now owns 160,700 shares of the company’s stock worth $13,509,000 after buying an additional 91,200 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Asbury Automotive Group during the second quarter valued at approximately $5,598,000. Origin Asset Management LLP boosted its position in shares of Asbury Automotive Group by 1,305.4% during the first quarter. Origin Asset Management LLP now owns 57,060 shares of the company’s stock valued at $3,958,000 after purchasing an additional 53,000 shares in the last quarter. Invesco Ltd. boosted its position in shares of Asbury Automotive Group by 78.6% during the second quarter. Invesco Ltd. now owns 83,325 shares of the company’s stock valued at $7,028,000 after purchasing an additional 36,659 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Asbury Automotive Group by 259.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 15,673 shares of the company’s stock valued at $1,322,000 after purchasing an additional 25,473 shares in the last quarter.

Several equities research analysts recently weighed in on the company. Bank of America lowered Asbury Automotive Group from a “buy” rating to a “neutral” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on Asbury Automotive Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Thursday, August 1st. ValuEngine lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Morgan Stanley lifted their price target on Asbury Automotive Group from $86.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Asbury Automotive Group presently has a consensus rating of “Hold” and an average price target of $90.00.

In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 8,000 shares of Asbury Automotive Group stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $91.71, for a total transaction of $733,680.00. Following the completion of the transaction, the director now owns 17,703 shares in the company, valued at $1,623,542.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas C. Deloach, Jr. sold 2,000 shares of Asbury Automotive Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.00, for a total value of $182,000.00. Following the transaction, the director now owns 15,703 shares of the company’s stock, valued at approximately $1,428,973. The disclosure for this sale can be found here. Insiders have sold 12,324 shares of company stock valued at $1,129,466 in the last quarter. 1.36% of the stock is owned by company insiders.

Shares of NYSE:ABG opened at $97.19 on Thursday. The stock has a fifty day simple moving average of $97.07 and a two-hundred day simple moving average of $84.85. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.73 and a beta of 1.24. Asbury Automotive Group, Inc. has a 12-month low of $58.60 and a 12-month high of $104.55. The company has a current ratio of 1.20, a quick ratio of 0.34 and a debt-to-equity ratio of 1.68.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.11. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Asbury Automotive Group had a return on equity of 35.08% and a net margin of 2.57%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. As a group, equities research analysts predict that Asbury Automotive Group, Inc. will post 9.32 EPS for the current year.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc, together with its subsidiaries, 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 services, replacement parts, and collision repair services.

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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