ProShare Advisors LLC reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG – Free Report) by 8.1% in the 1st quarter, HoldingsChannel reports. The firm owned 3,212 shares of the company’s stock after selling 285 shares during the period. ProShare Advisors LLC’s holdings in Asbury Automotive Group were worth $675,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Asbury Automotive Group by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 2,577,260 shares of the company’s stock valued at $412,878,000 after acquiring an additional 122,138 shares during the period. Neuberger Berman Group LLC raised its holdings in Asbury Automotive Group by 4.8% in the 4th quarter. Neuberger Berman Group LLC now owns 1,518,499 shares of the company’s stock valued at $272,191,000 after acquiring an additional 70,084 shares during the period. State Street Corp raised its holdings in Asbury Automotive Group by 2.0% in the 1st quarter. State Street Corp now owns 807,809 shares of the company’s stock valued at $129,411,000 after acquiring an additional 16,163 shares during the period. Capital Research Global Investors raised its holdings in Asbury Automotive Group by 35.4% in the 1st quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock valued at $121,929,000 after acquiring an additional 198,985 shares during the period. Finally, Morgan Stanley raised its holdings in Asbury Automotive Group by 17.8% in the 4th quarter. Morgan Stanley now owns 607,278 shares of the company’s stock valued at $108,855,000 after acquiring an additional 91,748 shares during the period.
Analyst Ratings Changes
Several research analysts have weighed in on ABG shares. Morgan Stanley increased their price target on shares of Asbury Automotive Group from $128.00 to $165.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. Stephens increased their price target on shares of Asbury Automotive Group from $275.00 to $300.00 in a report on Wednesday, July 19th. Finally, StockNews.com cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Thursday.
Asbury Automotive Group Stock Down 2.7 %
Shares of ABG opened at $219.19 on Friday. Asbury Automotive Group, Inc. has a 12 month low of $138.88 and a 12 month high of $256.39. The firm’s 50 day moving average is $230.01 and its 200-day moving average is $218.14. The stock has a market capitalization of $4.51 billion, a PE ratio of 5.11, a P/E/G ratio of 0.37 and a beta of 1.13. The company has a current ratio of 1.91, a quick ratio of 0.77 and a debt-to-equity ratio of 1.04.
Asbury Automotive Group (NYSE:ABG – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $8.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.24 by $0.71. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Asbury Automotive Group had a net margin of 6.28% and a return on equity of 26.62%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $10.04 earnings per share. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 33.53 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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