Asbury Automotive Group, Inc. (NYSE:ABG) Stake Increased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Asbury Automotive Group, Inc. (NYSE:ABGGet Rating) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,073 shares of the company’s stock after buying an additional 20,994 shares during the period. Victory Capital Management Inc. owned about 1.09% of Asbury Automotive Group worth $42,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABG. Marshall Wace LLP bought a new stake in shares of Asbury Automotive Group in the fourth quarter worth $33,599,000. Assenagon Asset Management S.A. boosted its holdings in Asbury Automotive Group by 321.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 246,851 shares of the company’s stock worth $42,639,000 after purchasing an additional 188,211 shares during the period. Redwood Investments LLC acquired a new position in Asbury Automotive Group in the fourth quarter worth $22,621,000. TimesSquare Capital Management LLC acquired a new position in Asbury Automotive Group in the fourth quarter worth $22,006,000. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in Asbury Automotive Group by 1,433.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 131,880 shares of the company’s stock worth $22,779,000 after purchasing an additional 123,280 shares during the period.

Wall Street Analyst Weigh In

ABG has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Asbury Automotive Group from $195.00 to $205.00 in a report on Monday. Morgan Stanley boosted their price target on shares of Asbury Automotive Group from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Friday. Finally, StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $203.75.

Asbury Automotive Group Stock Performance

ABG stock opened at $180.75 on Tuesday. The company has a market capitalization of $4.00 billion, a P/E ratio of 5.41, a PEG ratio of 0.26 and a beta of 1.13. The company has a 50-day simple moving average of $172.62 and a 200 day simple moving average of $173.29. Asbury Automotive Group, Inc. has a fifty-two week low of $146.43 and a fifty-two week high of $230.96. The company has a quick ratio of 0.71, a current ratio of 1.38 and a debt-to-equity ratio of 1.38.

Asbury Automotive Group Profile

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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.

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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