Insider Selling: Asbury Automotive Group, Inc. (ABG) Director Sells 1,500 Shares of Stock

Asbury Automotive Group, Inc. (NYSE:ABG) Director Thomas Reddin sold 1,500 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $69.00, for a total value of $103,500.00. Following the sale, the director now directly owns 4,415 shares of the company’s stock, valued at approximately $304,635. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) traded down $0.90 during mid-day trading on Monday, reaching $68.75. The company had a trading volume of 174,023 shares, compared to its average volume of 207,171. Asbury Automotive Group, Inc. has a 12 month low of $49.10 and a 12 month high of $76.40. The stock has a market capitalization of $1,450.00, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.89 and a beta of 1.61. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.23 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. Asbury Automotive Group had a return on equity of 39.80% and a net margin of 2.15%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $1.56 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. research analysts predict that Asbury Automotive Group, Inc. will post 7.26 EPS for the current year.

A number of hedge funds have recently made changes to their positions in ABG. Schroder Investment Management Group purchased a new stake in Asbury Automotive Group in the fourth quarter worth $19,860,000. First Manhattan Co. purchased a new stake in Asbury Automotive Group in the fourth quarter worth $15,909,000. Goldman Sachs Group Inc. lifted its stake in Asbury Automotive Group by 14.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 722,090 shares of the company’s stock worth $46,214,000 after acquiring an additional 90,927 shares during the period. Abrams Capital Management L.P. lifted its stake in Asbury Automotive Group by 8.5% in the fourth quarter. Abrams Capital Management L.P. now owns 1,085,091 shares of the company’s stock worth $69,446,000 after acquiring an additional 85,091 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Asbury Automotive Group by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 193,201 shares of the company’s stock worth $11,872,000 after acquiring an additional 72,887 shares during the period.

A number of analysts have recently weighed in on ABG shares. Zacks Investment Research lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. Craig Hallum raised their price target on Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.40.

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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.

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

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