Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS trimmed its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 13.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,300 shares of the company’s stock after selling 500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Asbury Automotive Group were worth $729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of 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 buying an additional 41 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Asbury Automotive Group by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock valued at $129,000 after buying an additional 165 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after purchasing an additional 443 shares during the period.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG opened at $221.07 on Wednesday. The firm has a fifty day simple moving average of $239.30 and a two-hundred day simple moving average of $244.69. The stock has a market capitalization of $4.35 billion, a P/E ratio of 10.52, a PEG ratio of 1.55 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, topping the consensus estimate of $6.82 by $0.61. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a net margin of 2.42% and a return on equity of 15.41%. Asbury Automotive Group’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.40 EPS. On average, analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABG. Wall Street Zen upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Citigroup initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of Asbury Automotive Group from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $235.00 to $225.00 in a research report on Thursday, July 17th. Finally, Bank of America increased their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Asbury Automotive Group presently has a consensus rating of “Hold” and an average price target of $259.33.

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.