MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 8,343 Shares of Asbury Automotive Group, Inc. $ABG

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 37.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,683 shares of the company’s stock after selling 8,343 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of Asbury Automotive Group worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock worth $36,000 after acquiring an additional 50 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in Asbury Automotive Group by 1.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,074 shares of the company’s stock worth $900,000 after acquiring an additional 51 shares in the last quarter. Choreo LLC grew its position in Asbury Automotive Group by 1.7% in the first quarter. Choreo LLC now owns 3,094 shares of the company’s stock worth $683,000 after acquiring an additional 53 shares in the last quarter. US Bancorp DE grew its position in Asbury Automotive Group by 1.7% in the first quarter. US Bancorp DE now owns 3,540 shares of the company’s stock worth $782,000 after acquiring an additional 58 shares in the last quarter. Finally, CWM LLC grew its position in Asbury Automotive Group by 7.5% in the first quarter. CWM LLC now owns 858 shares of the company’s stock worth $189,000 after acquiring an additional 60 shares in the last quarter.

Asbury Automotive Group Price Performance

ABG stock opened at $243.95 on Friday. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $242.83 and a 200 day moving average price of $236.60. The stock has a market cap of $4.80 billion, a PE ratio of 8.91, a P/E/G ratio of 1.62 and a beta of 0.89.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.82 by $0.61. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.40 EPS. Equities research analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Insider Activity at Asbury Automotive Group

In other news, SVP Dean Calloway sold 400 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the completion of the sale, the senior vice president owned 5,295 shares of the company’s stock, valued at approximately $1,347,048. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jed Milstein sold 1,132 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total transaction of $286,690.32. Following the sale, the senior vice president directly owned 11,267 shares of the company’s stock, valued at $2,853,480.42. This represents a 9.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,957 shares of company stock worth $745,501. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

ABG has been the subject of several recent research reports. Bank of America dropped their price target on Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley lifted their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Stephens upgraded Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $225.00 to $215.00 and set an “underweight” rating for the company in a research note on Tuesday, August 5th. Finally, Cfra set a $225.00 price target on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $249.00.

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.