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

AQR Capital Management LLC trimmed its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 32.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,613 shares of the company’s stock after selling 3,213 shares during the quarter. AQR Capital Management LLC’s holdings in Asbury Automotive Group were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABG. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter valued at about $155,000. Kapitalo Investimentos Ltda acquired a new stake in Asbury Automotive Group in the 4th quarter valued at about $162,000. Headlands Technologies LLC acquired a new stake in Asbury Automotive Group during the 2nd quarter worth about $190,000. Finally, Innealta Capital LLC acquired a new stake in Asbury Automotive Group during the 2nd quarter worth about $194,000.

Insider Activity

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Hult sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Asbury Automotive Group Price Performance

Shares of ABG opened at $221.83 on Friday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 8.08 and a beta of 1.16. Asbury Automotive Group, Inc. has a fifty-two week low of $178.40 and a fifty-two week high of $277.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. The business’s 50-day moving average is $230.32 and its 200-day moving average is $231.17.

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 analysts’ consensus estimates of $7.31 by ($0.91). The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. Asbury Automotive Group’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.95 EPS. Equities research analysts expect that Asbury Automotive Group, Inc. will post 26.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ABG. JPMorgan Chase & Co. boosted 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. Morgan Stanley upgraded 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 report on Wednesday, September 25th. StockNews.com downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, Stephens began coverage on Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $237.75.

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.