Mirae Asset Global Investments Co. Ltd. Increases Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 31.3% during the fourth quarter, Holdings Channel reports. The fund owned 17,589 shares of the company’s stock after acquiring an additional 4,198 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Asbury Automotive Group were worth $3,957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Asbury Automotive Group during the third quarter worth approximately $36,000. CWM LLC grew its holdings in Asbury Automotive Group by 94.0% during the 3rd quarter. CWM LLC now owns 161 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in Asbury Automotive Group by 93.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 186 shares of the company’s stock worth $45,000 after acquiring an additional 90 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Asbury Automotive Group by 66.9% in the 1st quarter. Belpointe Asset Management LLC now owns 227 shares of the company’s stock valued at $48,000 after purchasing an additional 91 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings 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.

Analyst Ratings Changes

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

Asbury Automotive Group Price Performance

ABG stock opened at $216.45 on Wednesday. The business has a 50 day moving average price of $216.87 and a 200 day moving average price of $213.08. The company has a quick ratio of 0.45, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 7.57 and a beta of 1.18. Asbury Automotive Group, Inc. has a fifty-two week low of $178.40 and a fifty-two week high of $256.39.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data 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). Asbury Automotive Group had a return on equity of 21.68% and a net margin of 4.07%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm posted $9.12 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Asbury Automotive Group, Inc. will post 31.46 earnings per share for the current fiscal year.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the transaction, the senior vice president now owns 8,300 shares of the company’s stock, valued at $1,734,700. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is 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.