Van ECK Associates Corp Purchases 2,872 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Van ECK Associates Corp lifted its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,202 shares of the company’s stock after buying an additional 2,872 shares during the period. Van ECK Associates Corp’s holdings in Asbury Automotive Group were worth $4,095,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABG. DekaBank Deutsche Girozentrale purchased a new position in Asbury Automotive Group in the 3rd quarter worth approximately $36,000. GAMMA Investing LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter worth $48,000. Blue Trust Inc. raised its stake in shares of Asbury Automotive Group by 31.2% in the fourth quarter. Blue Trust Inc. now owns 244 shares of the company’s stock worth $56,000 after purchasing an additional 58 shares during the last quarter. Pathstone Family Office LLC bought a new position in shares of Asbury Automotive Group during the third quarter valued at $202,000. Finally, Paulson Wealth Management Inc. boosted its position in shares of Asbury Automotive Group by 14.3% during the third quarter. Paulson Wealth Management Inc. now owns 985 shares of the company’s stock valued at $227,000 after buying an additional 123 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABG. Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research report on Thursday, February 8th. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday.

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 that occurred 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 sale, the senior vice president now owns 8,300 shares in the company, valued at approximately $1,734,700. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Trading Up 2.5 %

Shares of ABG stock opened at $213.75 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.45. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 7.79 and a beta of 1.19. Asbury Automotive Group, Inc. has a 1 year low of $178.40 and a 1 year high of $256.39. The firm has a fifty day moving average price of $217.00 and a 200-day moving average price of $213.13.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.76 by ($0.55). Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the firm posted $8.37 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts predict that Asbury Automotive Group, Inc. will post 30.85 earnings per share for the current year.

About Asbury Automotive Group

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.