Mutual of America Capital Management LLC Has $602,000 Holdings in Asbury Automotive Group, Inc. $ABG

Mutual of America Capital Management LLC cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,525 shares of the company’s stock after selling 328 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Asbury Automotive Group were worth $602,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in Asbury Automotive Group during the 1st quarter worth $49,000. eCIO Inc. bought a new position in shares of Asbury Automotive Group in the first quarter worth $56,000. GAMMA Investing LLC raised its stake in Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock valued at $129,000 after purchasing an additional 165 shares in the last quarter. CWM LLC raised its stake in Asbury Automotive Group by 7.5% in the first quarter. CWM LLC now owns 858 shares of the company’s stock valued at $189,000 after purchasing an additional 60 shares in the last quarter. Finally, TD Private Client Wealth LLC bought a new stake in Asbury Automotive Group during the first quarter worth about $197,000.

Insider Activity

In related news, Director Juanita T. James sold 625 shares of Asbury Automotive Group stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $244.10, for a total transaction of $152,562.50. Following the sale, the director directly owned 6,855 shares in the company, valued at approximately $1,673,305.50. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jed Milstein sold 1,132 shares of the business’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 in the company, valued at approximately $2,853,480.42. This represents a 9.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,957 shares of company stock worth $745,501 in the last quarter. 0.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABG has been the topic of several recent analyst reports. Citigroup reissued a “neutral” rating on shares of Asbury Automotive Group in a report on Thursday, September 25th. Bank of America decreased their price objective on shares of Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Cfra set a $225.00 price objective on Asbury Automotive Group in a research report on Tuesday, July 29th. Zacks Research raised shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Stephens raised shares of Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $225.00 to $277.00 in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $251.14.

Asbury Automotive Group Stock Performance

ABG stock opened at $234.68 on Tuesday. The stock has a 50-day moving average price of $246.74 and a 200-day moving average price of $238.04. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The firm has a market cap of $4.61 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

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

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.