Shell Asset Management Co. Decreases Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Shell Asset Management Co. lowered its stake in Asbury Automotive Group, Inc. (NYSE:ABGFree Report) by 1.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,177 shares of the company’s stock after selling 55 shares during the quarter. Shell Asset Management Co.’s holdings in Asbury Automotive Group were worth $731,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ABG. Envestnet Asset Management Inc. grew its stake in Asbury Automotive Group by 1,592.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 483,748 shares of the company’s stock valued at $5,672,000 after acquiring an additional 455,168 shares during the period. Norges Bank acquired a new stake in Asbury Automotive Group in the 4th quarter valued at $53,831,000. Capital Research Global Investors grew its stake in Asbury Automotive Group by 35.4% in the 1st quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock valued at $121,929,000 after acquiring an additional 198,985 shares during the period. Goldman Sachs Group Inc. grew its stake in Asbury Automotive Group by 360.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 241,841 shares of the company’s stock valued at $40,953,000 after acquiring an additional 189,329 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Asbury Automotive Group by 680.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 187,832 shares of the company’s stock valued at $39,445,000 after acquiring an additional 163,754 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ABG shares. Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research note on Thursday. JPMorgan Chase & Co. upgraded Asbury Automotive Group from a “neutral” rating to an “overweight” rating and set a $245.00 price objective on the stock in a report on Tuesday, October 31st.

Get Our Latest Research Report on Asbury Automotive Group

Insider Transactions at Asbury Automotive Group

In other news, SVP Daniel Clara sold 4,618 shares of Asbury Automotive Group stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $237.11, for a total transaction of $1,094,973.98. Following the transaction, the senior vice president now owns 6,047 shares in the company, valued at approximately $1,433,804.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Philip F. Maritz sold 1,651 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $227.65, for a total value of $375,850.15. Following the sale, the director now directly owns 6,522 shares in the company, valued at approximately $1,484,733.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Daniel Clara sold 4,618 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $237.11, for a total transaction of $1,094,973.98. Following the completion of the sale, the senior vice president now owns 6,047 shares in the company, valued at $1,433,804.17. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Asbury Automotive Group Trading Up 4.5 %

Shares of ABG stock opened at $216.07 on Friday. The stock’s fifty day moving average is $214.92 and its two-hundred day moving average is $215.44. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.82 and a current ratio of 2.07. The firm has a market capitalization of $4.45 billion, a P/E ratio of 5.16 and a beta of 1.18. Asbury Automotive Group, Inc. has a fifty-two week low of $178.40 and a fifty-two week high of $256.39.

Asbury Automotive Group (NYSE:ABGGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $7.12 EPS for the quarter, missing the consensus estimate of $7.74 by ($0.62). Asbury Automotive Group had a return on equity of 24.10% and a net margin of 6.13%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm earned $9.12 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that Asbury Automotive Group, Inc. will post 33.19 earnings per share for the current fiscal year.

Asbury Automotive Group Profile

(Free Report)

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.

Further Reading

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

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