Bridgeway Capital Management Inc. Boosts Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Bridgeway Capital Management Inc. raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 98.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,800 shares of the company’s stock after acquiring an additional 41,000 shares during the quarter. Bridgeway Capital Management Inc. owned approximately 0.43% of Asbury Automotive Group worth $6,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Mutual of America Capital Management LLC raised its stake in shares of Asbury Automotive Group by 11.6% in the second quarter. Mutual of America Capital Management LLC now owns 941 shares of the company’s stock valued at $73,000 after purchasing an additional 98 shares in the last quarter. Stone Ridge Asset Management LLC raised its stake in shares of Asbury Automotive Group by 5.1% in the second quarter. Stone Ridge Asset Management LLC now owns 6,130 shares of the company’s stock valued at $474,000 after purchasing an additional 300 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Asbury Automotive Group by 1.0% in the second quarter. California State Teachers Retirement System now owns 30,845 shares of the company’s stock valued at $2,385,000 after purchasing an additional 311 shares in the last quarter. American International Group Inc. raised its stake in shares of Asbury Automotive Group by 2.6% in the second quarter. American International Group Inc. now owns 13,629 shares of the company’s stock valued at $1,054,000 after purchasing an additional 345 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Asbury Automotive Group by 36.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,318 shares of the company’s stock valued at $72,000 after purchasing an additional 349 shares in the last quarter.

ABG has been the subject of several recent analyst reports. TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b” rating in a research note on Tuesday, July 14th. Morgan Stanley increased their price objective on Asbury Automotive Group from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. ValuEngine upgraded Asbury Automotive Group from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $100.00 to $110.00 in a research note on Wednesday, July 29th. Finally, SunTrust Banks increased their price objective on Asbury Automotive Group from $70.00 to $100.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $101.33.

In related news, Director Juanita T. James sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $110.13, for a total value of $110,130.00. Following the transaction, the director now owns 6,871 shares in the company, valued at $756,703.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William Frederick Stax sold 700 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $105.00, for a total value of $73,500.00. Following the completion of the transaction, the chief accounting officer now owns 4,731 shares in the company, valued at approximately $496,755. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Shares of ABG stock traded down $3.73 during trading hours on Wednesday, hitting $102.98. 9,582 shares of the company’s stock were exchanged, compared to its average volume of 159,237. The stock’s 50-day moving average is $105.49 and its 200-day moving average is $80.04. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.78 and a quick ratio of 1.07. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 13.06 and a beta of 1.71. Asbury Automotive Group, Inc. has a 52 week low of $39.36 and a 52 week high of $123.44.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 28th. The company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.49 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Asbury Automotive Group had a return on equity of 27.07% and a net margin of 2.32%. The business’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.38 earnings per share. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 10.49 earnings per share for the current fiscal year.

Asbury Automotive Group Company 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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