Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by AlphaCrest Capital Management LLC

AlphaCrest Capital Management LLC cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 77.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,066 shares of the company’s stock after selling 10,694 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Asbury Automotive Group were worth $463,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Asbury Automotive Group by 7.6% during the 2nd quarter. Rhumbline Advisers now owns 68,743 shares of the company’s stock worth $11,641,000 after buying an additional 4,852 shares in the last quarter. Atlas Capital Advisors LLC lifted its holdings in Asbury Automotive Group by 3,311.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,047 shares of the company’s stock worth $347,000 after buying an additional 1,987 shares in the last quarter. Voss Capital LLC lifted its holdings in Asbury Automotive Group by 77.2% during the 2nd quarter. Voss Capital LLC now owns 51,399 shares of the company’s stock worth $8,704,000 after buying an additional 22,399 shares in the last quarter. US Bancorp DE lifted its holdings in Asbury Automotive Group by 0.3% during the 3rd quarter. US Bancorp DE now owns 23,350 shares of the company’s stock worth $3,529,000 after buying an additional 65 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Asbury Automotive Group in the 3rd quarter valued at $1,925,000.

Insider Activity at Asbury Automotive Group

In related news, Director Berman Bridget Ryan sold 1,050 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $231.44, for a total value of $243,012.00. Following the completion of the sale, the director now directly owns 4,617 shares of the company’s stock, valued at approximately $1,068,558.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Jed Milstein sold 3,050 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $233.81, for a total value of $713,120.50. Following the completion of the sale, the senior vice president now directly owns 8,301 shares of the company’s stock, valued at approximately $1,940,856.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Berman Bridget Ryan sold 1,050 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $231.44, for a total value of $243,012.00. Following the sale, the director now directly owns 4,617 shares of the company’s stock, valued at $1,068,558.48. The disclosure for this sale can be found here. Insiders sold a total of 31,928 shares of company stock valued at $7,441,409 in the last three months. 0.72% of the stock is currently owned by company insiders.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $225.24 on Friday. The company has a fifty day moving average of $214.59 and a two-hundred day moving average of $183.40. The company has a market capitalization of $4.89 billion, a PE ratio of 5.05, a P/E/G ratio of 0.42 and a beta of 1.14. Asbury Automotive Group, Inc. has a 1 year low of $138.88 and a 1 year high of $253.67. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.85 and a quick ratio of 0.92.

Asbury Automotive Group (NYSE:ABG – Get Rating) last posted its earnings results on Thursday, February 2nd. The company reported $9.12 earnings per share for the quarter, beating the consensus estimate of $8.23 by $0.89. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.86 billion. Asbury Automotive Group had a return on equity of 33.22% and a net margin of 6.46%. The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.46 EPS. As a group, analysts expect that Asbury Automotive Group, Inc. will post 30.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ABG shares. StockNews.com upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Saturday, January 28th. Morgan Stanley reduced their price objective on shares of Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating on the stock in a report on Tuesday, January 17th. Finally, Stephens raised their price objective on shares of Asbury Automotive Group to $280.00 in a report on Tuesday, February 7th.

Asbury Automotive Group Company Profile

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Asbury Automotive Group, Inc operates as a franchised automotive retailer. It operates through the Dealerships and Total Care Auto (TCA) segments. The Dealerships segment offers a range of automotive products and services fulfilling the entire vehicle ownership lifecycle including the sale of new and used vehicles and the provision of vehicle repair and maintenance services, replacement parts, and collision repair services.