Quest Partners LLC Has $49,000 Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Quest Partners LLC lowered its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 92.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215 shares of the company’s stock after selling 2,563 shares during the quarter. Quest Partners LLC’s holdings in Asbury Automotive Group were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABG. AXS Investments LLC acquired a new stake in Asbury Automotive Group in the 4th quarter worth about $38,000. GAMMA Investing LLC grew its position in Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after buying an additional 146 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Asbury Automotive Group during the 4th quarter worth $162,000. Innealta Capital LLC bought a new position in Asbury Automotive Group during the 2nd quarter worth $194,000. Finally, Sage Rhino Capital LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at $208,000.

Asbury Automotive Group Price Performance

Shares of ABG stock opened at $219.68 on Thursday. The business has a fifty day simple moving average of $237.58 and a 200 day simple moving average of $229.18. The company has a market cap of $4.43 billion, a P/E ratio of 8.01 and a beta of 1.16. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. Asbury Automotive Group, Inc. has a twelve month low of $178.40 and a twelve month high of $277.13.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the company posted $8.95 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that Asbury Automotive Group, Inc. will post 26.99 EPS for the current fiscal year.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now owns 56,834 shares in the company, valued at $12,911,548.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David W. Hult sold 500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABG has been the topic of several analyst reports. Stephens initiated coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. StockNews.com cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Finally, Morgan Stanley increased their price target on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $225.25.

About Asbury Automotive Group

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.