Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by ARP Americas LP

ARP Americas LP lessened its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 27.5% in the 2nd quarter, Holdings Channel reports. The fund owned 3,843 shares of the company’s stock after selling 1,457 shares during the period. ARP Americas LP’s holdings in Asbury Automotive Group were worth $297,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ABG. Abrams Capital Management L.P. lifted its stake in shares of Asbury Automotive Group by 11.3% in the first quarter. Abrams Capital Management L.P. now owns 2,118,216 shares of the company’s stock valued at $116,989,000 after purchasing an additional 215,688 shares during the period. Eminence Capital LP lifted its stake in shares of Asbury Automotive Group by 299.8% in the first quarter. Eminence Capital LP now owns 827,925 shares of the company’s stock valued at $45,726,000 after purchasing an additional 620,857 shares during the period. Morgan Stanley lifted its stake in shares of Asbury Automotive Group by 59.6% in the first quarter. Morgan Stanley now owns 743,829 shares of the company’s stock valued at $41,081,000 after purchasing an additional 277,774 shares during the period. State Street Corp lifted its stake in shares of Asbury Automotive Group by 10.1% in the first quarter. State Street Corp now owns 681,773 shares of the company’s stock valued at $37,654,000 after purchasing an additional 62,519 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Asbury Automotive Group by 11.4% in the fourth quarter. Macquarie Group Ltd. now owns 501,959 shares of the company’s stock valued at $56,114,000 after purchasing an additional 51,500 shares during the period.

ABG has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Tuesday, June 9th. TheStreet upgraded shares of Asbury Automotive Group from a “c+” rating to a “b” rating in a report on Tuesday, July 14th. Morgan Stanley raised their target price on shares of Asbury Automotive Group from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday. SunTrust Banks raised their target price on shares of Asbury Automotive Group from $70.00 to $100.00 and gave the company a “hold” rating in a report on Thursday, July 9th. Finally, Craig Hallum downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and raised their target price for the company from $100.00 to $110.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $101.33.

Asbury Automotive Group stock traded down $1.43 during trading on Friday, reaching $100.15. The company had a trading volume of 298,247 shares, compared to its average volume of 275,311. Asbury Automotive Group, Inc. has a 12-month low of $39.36 and a 12-month high of $123.44. The stock’s 50 day moving average price is $86.73 and its two-hundred day moving average price is $78.53. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.26 and a beta of 1.62. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.59 and a current ratio of 1.48.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 28th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.03. Asbury Automotive Group had a net margin of 2.32% and a return on equity of 27.89%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. Asbury Automotive Group’s revenue was down 19.9% compared to the same quarter last year. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 9.98 earnings per share for the current year.

In other Asbury Automotive Group news, CAO William Frederick Stax sold 700 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $105.00, for a total transaction of $73,500.00. Following the transaction, the chief accounting officer now directly owns 4,731 shares of the company’s stock, valued at $496,755. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jed Milstein sold 2,300 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $77.31, for a total transaction of $177,813.00. Following the transaction, the senior vice president now directly owns 13,977 shares in the company, valued at $1,080,561.87. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

About Asbury Automotive Group

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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