Atria Investments Inc Boosts Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Atria Investments Inc grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 51.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,520 shares of the company’s stock after purchasing an additional 860 shares during the period. Atria Investments Inc’s holdings in Asbury Automotive Group were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABG. Dimensional Fund Advisors LP lifted its holdings in Asbury Automotive Group by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after buying an additional 69,975 shares in the last quarter. Eminence Capital LP raised its stake in shares of Asbury Automotive Group by 41.5% during the second 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. Bank of New York Mellon Corp boosted its holdings in shares of Asbury Automotive Group by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock valued at $45,065,000 after purchasing an additional 7,754 shares during the period. Assenagon Asset Management S.A. grew its stake in Asbury Automotive Group by 366.1% in the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares in the last quarter. Finally, Magnolia Group LLC lifted its holdings in shares of Asbury Automotive Group by 7.8% in the 2nd quarter. Magnolia Group LLC now owns 110,000 shares of the company’s stock worth $25,066,000 after buying an additional 8,000 shares during the period.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $250.47 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.91 billion, a PE ratio of 14.17 and a beta of 1.16. Asbury Automotive Group, Inc. has a 12 month low of $195.09 and a 12 month high of $277.13. The stock has a fifty day moving average price of $234.55 and a 200-day moving average price of $235.14.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the business posted $8.12 earnings per share. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities research analysts predict that Asbury Automotive Group, Inc. will post 25.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ABG shares. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Bank of America lowered their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Craig Hallum lifted their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Asbury Automotive Group presently has an average rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group 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.