Bank of America Corp DE Buys 4,941 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Bank of America Corp DE increased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,799 shares of the company’s stock after purchasing an additional 4,941 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of Asbury Automotive Group worth $28,629,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in shares of Asbury Automotive Group by 51.4% during the fourth quarter. BNP Paribas Financial Markets now owns 20,490 shares of the company’s stock valued at $4,980,000 after purchasing an additional 6,956 shares in the last quarter. Algert Global LLC purchased a new position in Asbury Automotive Group in the fourth quarter worth about $909,000. Gallagher Fiduciary Advisors LLC grew its position in Asbury Automotive Group by 17.3% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 1,536 shares of the company’s stock worth $373,000 after acquiring an additional 226 shares in the last quarter. Comerica Bank grew its position in Asbury Automotive Group by 22.2% in the fourth quarter. Comerica Bank now owns 9,103 shares of the company’s stock worth $2,212,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Asbury Automotive Group in the fourth quarter worth about $1,951,000.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This represents a 24.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in 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. cut 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 report on Thursday, March 27th. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Stephens boosted their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, Citigroup started coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $258.50.

Asbury Automotive Group Trading Up 0.6%

Shares of Asbury Automotive Group stock opened at $235.12 on Friday. The firm has a 50-day simple moving average of $225.75 and a two-hundred day simple moving average of $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. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share 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 company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the company earned $7.21 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal 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.