Inspire Investing LLC Sells 94 Shares of Asbury Automotive Group, Inc. $ABG

Inspire Investing LLC lowered its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,546 shares of the company’s stock after selling 94 shares during the period. Inspire Investing LLC’s holdings in Asbury Automotive Group were worth $341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 50 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Asbury Automotive Group in the first quarter worth approximately $49,000. GAMMA Investing LLC raised its stake in shares of Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock worth $129,000 after purchasing an additional 165 shares during the last quarter. CWM LLC raised its stake in shares of 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 purchasing an additional 60 shares during the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Asbury Automotive Group in the first quarter worth approximately $197,000.

Insider Buying and Selling

In other news, SVP Jed Milstein sold 1,132 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total value of $286,690.32. Following the completion of the transaction, the senior vice president directly owned 11,267 shares of the company’s stock, valued at $2,853,480.42. This trade represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dean Calloway sold 400 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $254.40, for a total value of $101,760.00. Following the completion of the transaction, the senior vice president directly owned 5,295 shares of the company’s stock, valued at $1,347,048. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,957 shares of company stock valued at $745,501 over the last three months. Insiders own 0.59% of the company’s stock.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $242.54 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.30 and a quick ratio of 0.49. The business has a fifty day simple moving average of $242.00 and a two-hundred day simple moving average of $236.05. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company has a market capitalization of $4.77 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.55 and a beta of 0.89.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.82 by $0.61. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the business posted $6.40 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABG. Morgan Stanley increased their price objective on Asbury Automotive Group from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Stephens raised Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $225.00 to $277.00 in a research note on Wednesday, August 13th. JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $225.00 to $215.00 and set an “underweight” rating for the company in a research report on Tuesday, August 5th. Cfra set a $225.00 price target on Asbury Automotive Group in a research report on Tuesday, July 29th. Finally, Bank of America decreased 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, September 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $249.00.

Asbury Automotive Group Company 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.