Creative Planning Purchases 1,989 Shares of Asbury Automotive Group, Inc. $ABG

Creative Planning raised its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 30.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,533 shares of the company’s stock after purchasing an additional 1,989 shares during the quarter. Creative Planning’s holdings in Asbury Automotive Group were worth $2,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Asbury Automotive Group during the first quarter worth about $49,000. eCIO Inc. bought a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $56,000. Koss Olinger Consulting LLC bought a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $201,000. CWM LLC raised its holdings in shares of Asbury Automotive Group by 7.6% in the second quarter. CWM LLC now owns 923 shares of the company’s stock valued at $220,000 after purchasing an additional 65 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Asbury Automotive Group in the second quarter worth $250,000.

Asbury Automotive Group Trading Up 4.3%

Shares of NYSE:ABG opened at $233.38 on Wednesday. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a market capitalization of $4.54 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. The company has a 50-day simple moving average of $236.61 and a 200 day simple moving average of $238.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.99.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $7.17 earnings per share for the quarter, topping analysts’ consensus estimates of $6.80 by $0.37. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.84 billion. Asbury Automotive Group had a return on equity of 15.26% and a net margin of 3.15%.The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.35 earnings per share. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director Maureen F. Morrison sold 800 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $255.61, for a total value of $204,488.00. Following the sale, the director owned 5,824 shares in the company, valued at approximately $1,488,672.64. This represents a 12.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ABG has been the subject of a number of analyst reports. Zacks Research downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Barclays started coverage on Asbury Automotive Group in a report on Tuesday, November 11th. They issued an “equal weight” rating and a $275.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Asbury Automotive Group in a research report on Wednesday, November 19th. 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 note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus price target of $254.00.

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.