Asbury Automotive Group, Inc. (NYSE:ABG) is Simcoe Capital Management LLC’s 2nd Largest Position

Simcoe Capital Management LLC decreased its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 649,120 shares of the company’s stock after selling 128,145 shares during the quarter. Asbury Automotive Group comprises about 17.8% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Simcoe Capital Management LLC owned about 3.01% of Asbury Automotive Group worth $136,315,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Belpointe Asset Management LLC lifted its position in Asbury Automotive Group by 66.9% in the first quarter. Belpointe Asset Management LLC now owns 227 shares of the company’s stock worth $48,000 after buying an additional 91 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Asbury Automotive Group by 614.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 250 shares of the company’s stock valued at $45,000 after purchasing an additional 215 shares during the last quarter. Cerity Partners LLC purchased a new stake in Asbury Automotive Group in the 1st quarter worth about $778,000. Archer Investment Corp purchased a new position in shares of Asbury Automotive Group during the first quarter valued at approximately $83,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Asbury Automotive Group by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 487 shares of the company’s stock valued at $87,000 after buying an additional 76 shares during the last quarter.

Asbury Automotive Group Stock Up 1.0 %

Shares of ABG stock traded up $2.25 during trading hours on Tuesday, reaching $223.29. 66,308 shares of the company’s stock were exchanged, compared to its average volume of 214,695. Asbury Automotive Group, Inc. has a fifty-two week low of $138.88 and a fifty-two week high of $256.39. The stock’s 50 day moving average is $229.28 and its 200-day moving average is $217.84. The company has a current ratio of 1.91, a quick ratio of 0.77 and a debt-to-equity ratio of 1.04. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 5.15, a P/E/G ratio of 0.35 and a beta of 1.13.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $8.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.24 by $0.71. Asbury Automotive Group had a net margin of 6.28% and a return on equity of 26.62%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the company posted $10.04 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts predict that Asbury Automotive Group, Inc. will post 33.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Morgan Stanley raised their target price on shares of Asbury Automotive Group from $128.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 9th. Finally, Stephens boosted their price target on Asbury Automotive Group from $275.00 to $300.00 in a report on Wednesday, July 19th.

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.