Asbury Automotive Group Inc (ABG) Position Boosted by UBS Group AG

UBS Group AG raised its stake in Asbury Automotive Group Inc (NYSE:ABG) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 449,424 shares of the company’s stock after buying an additional 12,930 shares during the period. UBS Group AG’s holdings in Asbury Automotive Group were worth $27,011,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Comerica Bank increased its stake in Asbury Automotive Group by 5.5% in the fourth quarter. Comerica Bank now owns 21,019 shares of the company’s stock worth $1,338,000 after buying an additional 1,100 shares during the period. Steel Canyon Capital LLC purchased a new stake in Asbury Automotive Group during the fourth quarter worth approximately $5,483,000. Numeric Investors LLC increased its stake in Asbury Automotive Group by 76.3% in the fourth quarter. Numeric Investors LLC now owns 20,100 shares of the company’s stock worth $1,240,000 after buying an additional 8,700 shares during the period. Elliott Management Corp increased its stake in Asbury Automotive Group by 68.5% in the fourth quarter. Elliott Management Corp now owns 376,024 shares of the company’s stock worth $23,201,000 after buying an additional 152,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Asbury Automotive Group by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 774,953 shares of the company’s stock worth $47,815,000 after buying an additional 17,185 shares during the period. 99.89% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

Shares of Asbury Automotive Group Inc (NYSE ABG) traded down 2.42% on Tuesday, reaching $54.40. The company had a trading volume of 155,844 shares. Asbury Automotive Group Inc has a 52 week low of $47.50 and a 52 week high of $71.00. The firm has a market capitalization of $1.15 billion, a P/E ratio of 6.95 and a beta of 1.33. The company’s 50-day moving average price is $57.03 and its 200 day moving average price is $61.41.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Thursday, April 27th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. Asbury Automotive Group had a return on equity of 52.23% and a net margin of 2.61%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect that Asbury Automotive Group Inc will post $6.53 EPS for the current year.

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A number of equities research analysts recently commented on ABG shares. Morgan Stanley decreased their target price on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Friday, June 9th. BidaskClub raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine cut Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $62.67.

In other Asbury Automotive Group news, SVP George Karolis sold 2,743 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total transaction of $153,553.14. Following the completion of the sale, the senior vice president now directly owns 5,083 shares of the company’s stock, valued at approximately $284,546.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David W. Hult sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total value of $716,750.00. Following the completion of the sale, the chief operating officer now directly owns 41,911 shares of the company’s stock, valued at $2,403,176.74. The disclosure for this sale can be found here. Insiders have sold a total of 16,919 shares of company stock valued at $969,522 over the last ninety days. 11.90% of the stock is owned by insiders.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

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