Insider Selling: Asbury Automotive Group, Inc. (ABG) Director Sells 1,676 Shares of Stock
Asbury Automotive Group, Inc. (NYSE:ABG) Director Thomas C. Deloach, Jr. sold 1,676 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $59.20, for a total value of $99,219.20. Following the transaction, the director now owns 82,000 shares of the company’s stock, valued at approximately $4,854,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Asbury Automotive Group, Inc. (NYSE:ABG) traded down 1.18% during trading on Tuesday, hitting $58.45. The company had a trading volume of 148,203 shares. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 7.47 and a beta of 1.33. The stock has a 50-day moving average of $60.19 and a 200 day moving average of $60.87. Asbury Automotive Group, Inc. has a one year low of $47.50 and a one year high of $71.00.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Thursday, April 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. Asbury Automotive Group had a return on equity of 57.45% and a net margin of 2.56%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Asbury Automotive Group, Inc. will post $6.57 EPS for the current fiscal year.
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Several equities analysts recently commented on the company. Zacks Investment Research upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, February 9th. Jefferies Group LLC raised their target price on Asbury Automotive Group from $64.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday, February 7th.
A number of large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in Asbury Automotive Group during the first quarter valued at $104,000. Canada Pension Plan Investment Board acquired a new stake in Asbury Automotive Group during the third quarter valued at $106,000. US Bancorp DE boosted its stake in Asbury Automotive Group by 17.2% in the third quarter. US Bancorp DE now owns 3,274 shares of the company’s stock valued at $182,000 after buying an additional 480 shares during the last quarter. BB&T Securities LLC bought a new position in shares of Asbury Automotive Group during the third quarter valued at about $223,000. Finally, USA Financial Portformulas Corp bought a new position in shares of Asbury Automotive Group during the fourth quarter valued at about $261,000.
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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