Mutual of America Capital Management LLC Cuts Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Mutual of America Capital Management LLC lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,006 shares of the company’s stock after selling 310 shares during the period. Mutual of America Capital Management LLC’s holdings in Asbury Automotive Group were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Asbury Automotive Group during the third quarter valued at approximately $31,000. Quarry LP acquired a new position in Asbury Automotive Group in the 2nd quarter valued at $38,000. GAMMA Investing LLC raised its stake in Asbury Automotive Group by 100.0% in the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Asbury Automotive Group in the 2nd quarter valued at $155,000. Finally, Headlands Technologies LLC acquired a new stake in Asbury Automotive Group during the 2nd quarter worth $190,000.

Asbury Automotive Group Stock Down 1.2 %

Shares of NYSE:ABG opened at $263.72 on Wednesday. The business has a 50-day moving average price of $237.91 and a 200 day moving average price of $236.18. Asbury Automotive Group, Inc. has a 12-month low of $195.09 and a 12-month high of $277.13. 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 company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 15.10 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company posted $8.12 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Sell-side analysts expect that Asbury Automotive Group, Inc. will post 25.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABG shares. Stephens started coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price for the company. Bank of America cut their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Craig Hallum increased 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. Finally, Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.