Squarepoint Ops LLC Raises Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Squarepoint Ops LLC grew its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 84.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,033 shares of the company’s stock after acquiring an additional 6,861 shares during the period. Squarepoint Ops LLC owned 0.07% of Asbury Automotive Group worth $3,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Asbury Automotive Group by 1.0% during the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after acquiring an additional 51 shares during the last quarter. Oak Associates Ltd. OH lifted its holdings in shares of Asbury Automotive Group by 1.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock worth $831,000 after acquiring an additional 51 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock worth $2,588,000 after acquiring an additional 60 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Asbury Automotive Group by 0.3% during the first quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock worth $5,819,000 after purchasing an additional 62 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Asbury Automotive Group by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after acquiring an additional 66 shares during the period.

Asbury Automotive Group Price Performance

ABG opened at $233.63 on Wednesday. The firm has a market capitalization of $4.71 billion, a P/E ratio of 8.51 and a beta of 1.16. The stock has a fifty day moving average of $234.74 and a 200-day moving average of $230.73. Asbury Automotive Group, Inc. has a 12-month low of $178.40 and a 12-month high of $277.13. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Friday, August 2nd. The company reported $6.40 earnings per share for the quarter, missing the consensus estimate of $7.31 by ($0.91). The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. Asbury Automotive Group’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.95 earnings per share. Equities analysts forecast that Asbury Automotive Group, Inc. will post 26.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABG. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. JPMorgan Chase & Co. raised their price target on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Finally, Stephens initiated coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $237.75.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.