New York Life Investment Management LLC Has $390,000 Position in Asbury Automotive Group, Inc. (NYSE:ABG)

New York Life Investment Management LLC cut its position in Asbury Automotive Group, Inc. (NYSE:ABGFree Report) by 13.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,693 shares of the company’s stock after selling 259 shares during the quarter. New York Life Investment Management LLC’s holdings in Asbury Automotive Group were worth $390,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in Asbury Automotive Group by 3.2% in the second quarter. Integrated Wealth Concepts LLC now owns 1,842 shares of the company’s stock valued at $443,000 after purchasing an additional 57 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Asbury Automotive Group by 5.6% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,195 shares of the company’s stock valued at $287,000 after purchasing an additional 63 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Asbury Automotive Group by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 1,486 shares of the company’s stock valued at $357,000 after purchasing an additional 65 shares during the last quarter. Lazard Asset Management LLC raised its position in Asbury Automotive Group by 11.5% in the second quarter. Lazard Asset Management LLC now owns 698 shares of the company’s stock valued at $167,000 after purchasing an additional 72 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Asbury Automotive Group by 1.8% in the first quarter. HighTower Advisors LLC now owns 4,345 shares of the company’s stock valued at $910,000 after purchasing an additional 76 shares during the last quarter.

Asbury Automotive Group Trading Up 4.4 %

Shares of ABG stock opened at $215.92 on Friday. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 7.55 and a beta of 1.18. The stock has a 50-day moving average of $214.92 and a 200-day moving average of $215.42. The company has a current ratio of 2.07, a quick ratio of 0.82 and a debt-to-equity ratio of 0.97. Asbury Automotive Group, Inc. has a 1-year low of $178.40 and a 1-year high of $256.39.

Asbury Automotive Group (NYSE:ABGGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $7.12 earnings per share for the quarter, missing the consensus estimate of $7.74 by ($0.62). Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.90%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company posted $9.12 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 31.97 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

ABG has been the subject of several research reports. JPMorgan Chase & Co. upgraded Asbury Automotive Group from a “neutral” rating to an “overweight” rating and set a $245.00 target price for the company in a research report on Tuesday, October 31st. Craig Hallum cut Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Thursday.

View Our Latest Report on ABG

About Asbury Automotive Group

(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.

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

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