SG Americas Securities LLC Lowers Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

SG Americas Securities LLC lessened its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 8.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 789 shares of the company’s stock after selling 75 shares during the quarter. SG Americas Securities LLC’s holdings in Asbury Automotive Group were worth $188,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Quarry LP acquired a new position in Asbury Automotive Group in the second quarter valued at $38,000. GAMMA Investing LLC increased its stake in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Asbury Automotive Group during the 2nd quarter worth about $155,000. Headlands Technologies LLC purchased a new position in shares of Asbury Automotive Group during the 2nd quarter worth about $190,000. Finally, Innealta Capital LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter worth approximately $194,000.

Analyst Ratings Changes

Several brokerages recently commented on ABG. Stephens started coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. StockNews.com cut Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, Bank of America reduced their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Asbury Automotive Group has an average rating of “Hold” and a consensus price target of $251.20.

Asbury Automotive Group Stock Up 1.7 %

Shares of Asbury Automotive Group stock opened at $229.69 on Thursday. Asbury Automotive Group, Inc. has a twelve month low of $178.40 and a twelve month high of $277.13. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 8.37 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.45 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average price of $230.16 and a 200 day moving average price of $231.24.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Friday, August 2nd. The company reported $6.40 earnings per share 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%. Asbury Automotive Group’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $8.95 EPS. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction that occurred on 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 sale, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO David W. Hult sold 500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction that occurred 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 owns 2,008,649 shares of the company’s stock, valued at approximately $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 owned by company insiders.

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.