Craig T. Monaghan Sells 48,288 Shares of Asbury Automotive Group Inc (ABG) Stock

Asbury Automotive Group Inc (NYSE:ABG) CEO Craig T. Monaghan sold 48,288 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $60.96, for a total transaction of $2,943,636.48. Following the transaction, the chief executive officer now owns 125,408 shares in the company, valued at $7,644,871.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.09). Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. Asbury Automotive Group’s revenue was down 4.8% on a year-over-year basis.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its stake in shares of Asbury Automotive Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,655 shares of the company’s stock valued at $433,000 after purchasing an additional 20 shares during the period. Aperio Group LLC boosted its stake in shares of Asbury Automotive Group by 0.7% in the second quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock valued at $402,000 after purchasing an additional 51 shares during the period. Texas Permanent School Fund boosted its stake in shares of Asbury Automotive Group by 0.8% in the second quarter. Texas Permanent School Fund now owns 13,741 shares of the company’s stock valued at $777,000 after purchasing an additional 115 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock valued at $200,000 after purchasing an additional 132 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Asbury Automotive Group by 0.6% in the first quarter. Legal & General Group Plc now owns 52,722 shares of the company’s stock valued at $3,172,000 after purchasing an additional 316 shares during the period.

Several equities analysts recently commented on ABG shares. TheStreet upgraded shares of Asbury Automotive Group from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. Zacks Investment Research raised shares of Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 price objective (down from $68.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Deutsche Bank AG reissued a “hold” rating and issued a $58.00 price objective (down from $60.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Finally, Craig Hallum reissued a “hold” rating and issued a $55.00 price objective (down from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $56.75.

About Asbury Automotive Group

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.

Insider Buying and Selling by Quarter for Asbury Automotive Group (NYSE:ABG)

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