Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,217 shares of the company’s stock after selling 2,718 shares during the period. Victory Capital Management Inc. owned about 0.09% of Asbury Automotive Group worth $4,184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABG. Smartleaf Asset Management LLC raised its position in shares of Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares during the last quarter. KBC Group NV raised its position in shares of Asbury Automotive Group by 52.3% during the 4th quarter. KBC Group NV now owns 769 shares of the company’s stock worth $187,000 after purchasing an additional 264 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Asbury Automotive Group by 17.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after purchasing an additional 123 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of Asbury Automotive Group during the 4th quarter worth approximately $213,000. Finally, Highland Capital Management LLC acquired a new position in shares of Asbury Automotive Group during the 4th quarter worth approximately $216,000.

Asbury Automotive Group Stock Up 1.8 %

Shares of NYSE ABG opened at $231.04 on Friday. Asbury Automotive Group, Inc. has a 52-week low of $206.62 and a 52-week high of $312.56. The firm has a fifty day moving average of $268.34 and a 200-day moving average of $250.58. The stock has a market capitalization of $4.54 billion, a PE ratio of 10.74 and a beta of 1.22. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ABG shares. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Craig Hallum downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $264.00.

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.