Insider Selling: Asbury Automotive Group CEO Sells 12,887 Shares of Stock (ABG)
Asbury Automotive Group (NYSE:ABG) CEO Craig T. Monaghan unloaded 12,887 shares of Asbury Automotive Group stock on the open market in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $69.03, for a total value of $889,589.61. Following the completion of the sale, the chief executive officer now directly owns 109,483 shares of the company’s stock, valued at approximately $7,557,611. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Asbury Automotive Group (NYSE:ABG) traded down 0.87% during mid-day trading on Friday, hitting $68.18. The stock had a trading volume of 199,251 shares. Asbury Automotive Group has a one year low of $45.31 and a one year high of $73.35. The stock’s 50-day moving average is $69.72 and its 200-day moving average is $61.12. The company has a market cap of $2.069 billion and a P/E ratio of 18.15.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.08 by $0.11. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts expect that Asbury Automotive Group will post $4.29 EPS for the current fiscal year.
ABG has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Asbury Automotive Group from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $75.20 price target on the stock. Analysts at KeyCorp reiterated a “buy” rating on shares of Asbury Automotive Group in a research note on Wednesday, July 16th. They now have a $76.00 price target on the stock, up previously from $73.00. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $63.04.
Asbury Automotive Group, Inc (NYSE:ABG) is an automotive retailers in the United States.
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