Allspring Global Investments Holdings LLC Sells 441 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Allspring Global Investments Holdings LLC decreased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,455 shares of the company’s stock after selling 441 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Asbury Automotive Group were worth $552,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ABG. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Asbury Automotive Group by 31.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,589 shares of the company’s stock worth $3,957,000 after purchasing an additional 4,198 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth $12,855,000. Envestnet Asset Management Inc. boosted its holdings in Asbury Automotive Group by 18.3% during the third quarter. Envestnet Asset Management Inc. now owns 36,265 shares of the company’s stock worth $8,343,000 after purchasing an additional 5,610 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Asbury Automotive Group during the third quarter worth $4,185,000. Finally, Kensico Capital Management Corp boosted its holdings in Asbury Automotive Group by 73.7% during the third quarter. Kensico Capital Management Corp now owns 103,000 shares of the company’s stock worth $23,697,000 after purchasing an additional 43,700 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Craig Hallum cut 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 report on Thursday, February 8th.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $217.12 on Friday. The stock has a market cap of $4.38 billion, a P/E ratio of 7.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.45. The company has a fifty day moving average price of $216.95 and a two-hundred day moving average price of $213.22. Asbury Automotive Group, Inc. has a one year low of $178.40 and a one year high of $256.39.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Thursday, February 8th. The company reported $7.12 EPS for the quarter, missing analysts’ consensus estimates of $7.74 by ($0.62). The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.70 billion. Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.12 EPS. As a group, equities analysts predict 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 value of $826,595.00. Following the completion of the sale, the senior vice president now owns 8,300 shares in the company, valued at $1,734,700. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.