MML Investors Services LLC Invests $222,000 in Asbury Automotive Group, Inc. (NYSE:ABG)

MML Investors Services LLC bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 931 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently added to or reduced their stakes in ABG. Castleark Management LLC acquired a new position in shares of Asbury Automotive Group in the third quarter worth about $2,310,000. State Street Corp increased its stake in shares of Asbury Automotive Group by 0.5% in the 3rd quarter. State Street Corp now owns 801,391 shares of the company’s stock valued at $191,204,000 after purchasing an additional 3,672 shares in the last quarter. Stifel Financial Corp raised its holdings in Asbury Automotive Group by 1,990.9% in the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after purchasing an additional 18,973 shares during the period. Systematic Financial Management LP purchased a new position in Asbury Automotive Group during the third quarter worth approximately $269,000. Finally, Readystate Asset Management LP acquired a new stake in Asbury Automotive Group in the third quarter valued at approximately $532,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Craig Hallum upped their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America reduced 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 research report on Monday, October 14th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley raised shares of 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. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $249.27 on Friday. The firm has a 50-day simple moving average of $249.54 and a 200-day simple moving average of $239.20. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 14.11 and a beta of 1.18. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data 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 analyst estimates of $4.30 billion. During the same quarter in the previous year, the company posted $8.12 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. On average, equities analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

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.