Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,997 shares of the company’s stock after selling 2,533 shares during the quarter. Ameriprise Financial Inc. owned about 0.31% of Asbury Automotive Group worth $14,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in Asbury Automotive Group in the 4th quarter valued at about $25,000. CIBC Private Wealth Group LLC boosted its holdings in Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock valued at $117,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock valued at $122,000 after purchasing an additional 351 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock valued at $147,000 after purchasing an additional 443 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Asbury Automotive Group by 801.4% in the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock valued at $153,000 after purchasing an additional 561 shares during the last quarter.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares in the company, valued at approximately $1,111,510.08. This represents a 24.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by company insiders.

Asbury Automotive Group Price Performance

Shares of ABG opened at $235.12 on Friday. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The firm’s 50 day moving average price is $225.75 and its 200 day moving average price is $249.19. The company has a market cap of $4.62 billion, a P/E ratio of 10.93 and a beta of 0.98. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the firm earned $7.21 EPS. The company’s revenue was down 1.3% on a year-over-year basis. On average, research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABG shares. StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Citigroup started coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price target on the stock. Stephens boosted their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $258.50.

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.