Arizona State Retirement System Sells 341 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Arizona State Retirement System decreased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 6.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,177 shares of the company’s stock after selling 341 shares during the quarter. Arizona State Retirement System’s holdings in Asbury Automotive Group were worth $1,165,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Asbury Automotive Group by 3.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,842 shares of the company’s stock worth $443,000 after buying an additional 57 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Asbury Automotive Group by 31.2% in the 4th quarter. Blue Trust Inc. now owns 244 shares of the company’s stock valued at $56,000 after purchasing an additional 58 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Asbury Automotive Group by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 1,486 shares of the company’s stock valued at $357,000 after purchasing an additional 65 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Asbury Automotive Group by 5.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,434 shares of the company’s stock valued at $330,000 after purchasing an additional 68 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Asbury Automotive Group by 11.5% in the 2nd quarter. Lazard Asset Management LLC now owns 698 shares of the company’s stock valued at $167,000 after purchasing an additional 72 shares in the last quarter.

Analysts Set New Price Targets

Separately, Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Thursday, February 8th.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $215.30 on Tuesday. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 7.53 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.45 and a current ratio of 1.06. The company has a fifty day moving average of $216.74 and a 200-day moving average of $213.18. Asbury Automotive Group, Inc. has a 52-week low of $178.40 and a 52-week high of $256.39.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Thursday, February 8th. The company reported $7.12 earnings per share for the quarter, missing the consensus estimate of $7.74 by ($0.62). The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $9.12 EPS. Equities research analysts expect that Asbury Automotive Group, Inc. will post 31.46 EPS for the current year.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the sale, the senior vice president now owns 8,300 shares of the company’s stock, valued at approximately $1,734,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

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.