Graham Capital Management L.P. Acquires New Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Graham Capital Management L.P. bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABGFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,420 shares of the company’s stock, valued at approximately $327,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Asbury Automotive Group by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 2,577,260 shares of the company’s stock worth $412,878,000 after buying an additional 122,138 shares in the last quarter. State Street Corp raised its stake in shares of Asbury Automotive Group by 2.0% during the 1st quarter. State Street Corp now owns 828,314 shares of the company’s stock worth $173,946,000 after buying an additional 16,208 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Asbury Automotive Group by 35.4% during the 1st quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock worth $121,929,000 after buying an additional 198,985 shares in the last quarter. Morgan Stanley raised its stake in shares of Asbury Automotive Group by 17.8% during the 4th quarter. Morgan Stanley now owns 607,278 shares of the company’s stock worth $108,855,000 after buying an additional 91,748 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Asbury Automotive Group by 1,592.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 483,748 shares of the company’s stock worth $5,672,000 after buying an additional 455,168 shares in the last quarter.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $208.07 on Tuesday. Asbury Automotive Group, Inc. has a 1-year low of $178.40 and a 1-year high of $256.39. The company has a market capitalization of $4.24 billion, a P/E ratio of 7.28 and a beta of 1.17. The business has a 50 day moving average price of $210.46 and a 200 day moving average price of $213.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABGGet Free Report) last released its quarterly earnings data 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). The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $9.12 earnings per share. Sell-side analysts expect that Asbury Automotive Group, Inc. will post 31.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Craig Hallum downgraded Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Thursday, February 8th.

Check Out Our Latest Stock Analysis on Asbury Automotive Group

Insiders Place Their Bets

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the transaction, the senior vice president now owns 8,300 shares of the company’s stock, valued at $1,734,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by company insiders.

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.

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

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