Quarry LP Acquires New Shares in Asbury Automotive Group, Inc. (NYSE:ABG)

Quarry LP acquired a new stake in Asbury Automotive Group, Inc. (NYSE:ABG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 166 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Asbury Automotive Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,319,293 shares of the company’s stock valued at $521,771,000 after acquiring an additional 10,656 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after acquiring an additional 69,975 shares in the last quarter. Eminence Capital LP lifted its position in Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after acquiring an additional 146,246 shares in the last quarter. Brave Warrior Advisors LLC lifted its position in Asbury Automotive Group by 1.1% in the 4th quarter. Brave Warrior Advisors LLC now owns 278,367 shares of the company’s stock valued at $62,624,000 after acquiring an additional 3,101 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Asbury Automotive Group by 0.3% during the 4th quarter. Schroder Investment Management Group now owns 199,340 shares of the company’s stock valued at $44,846,000 after buying an additional 601 shares during the last quarter.

Insider Buying and Selling

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the company’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 completion of the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now directly owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABG has been the subject of a number of research reports. Stephens initiated coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price for the company. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, StockNews.com lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $237.75.

Asbury Automotive Group Trading Up 3.7 %

NYSE:ABG opened at $231.82 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.45 and a beta of 1.16. Asbury Automotive Group, Inc. has a one year low of $178.40 and a one year high of $277.13. The business has a fifty day moving average price of $233.18 and a 200-day moving average price of $231.14.

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

Asbury Automotive Group Company 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.