BlueMountain Capital Management LLC Has $1.07 Million Stake in Asbury Automotive Group, Inc. (ABG)

BlueMountain Capital Management LLC grew its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 28.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,588 shares of the company’s stock after purchasing an additional 3,483 shares during the period. BlueMountain Capital Management LLC owned approximately 0.08% of Asbury Automotive Group worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Federated Investors Inc. PA grew its position in shares of Asbury Automotive Group by 2.4% in the second quarter. Federated Investors Inc. PA now owns 124,860 shares of the company’s stock valued at $8,559,000 after purchasing an additional 2,877 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Asbury Automotive Group by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 864,220 shares of the company’s stock valued at $59,244,000 after purchasing an additional 15,359 shares in the last quarter. Legal & General Group Plc grew its position in shares of Asbury Automotive Group by 4.2% in the second quarter. Legal & General Group Plc now owns 53,008 shares of the company’s stock valued at $3,655,000 after purchasing an additional 2,143 shares in the last quarter. Chicago Equity Partners LLC grew its position in shares of Asbury Automotive Group by 226.3% in the second quarter. Chicago Equity Partners LLC now owns 87,310 shares of the company’s stock valued at $5,985,000 after purchasing an additional 60,550 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Asbury Automotive Group by 26.3% in the second quarter. BlackRock Inc. now owns 3,091,329 shares of the company’s stock valued at $211,911,000 after purchasing an additional 643,580 shares in the last quarter.

ABG has been the subject of a number of analyst reports. Zacks Investment Research lowered Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $63.00 to $71.00 in a research report on Tuesday, July 10th. SunTrust Banks initiated coverage on Asbury Automotive Group in a research report on Friday, August 24th. They issued a “hold” rating and a $78.00 price target for the company. Finally, ValuEngine lowered Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $71.83.

In related news, Director Thomas C. Deloach, Jr. sold 10,616 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $74.75, for a total value of $793,546.00. Following the completion of the transaction, the director now directly owns 68,652 shares in the company, valued at $5,131,737. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Juanita T. James sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $74.73, for a total value of $112,095.00. Following the completion of the transaction, the director now owns 8,679 shares of the company’s stock, valued at $648,581.67. The disclosure for this sale can be found here. Insiders sold 27,386 shares of company stock valued at $2,050,438 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Shares of Asbury Automotive Group stock opened at $71.80 on Friday. The company has a market capitalization of $1.48 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.04 and a beta of 1.45. Asbury Automotive Group, Inc. has a fifty-two week low of $54.51 and a fifty-two week high of $77.75. The company has a quick ratio of 0.36, a current ratio of 1.19 and a debt-to-equity ratio of 1.90.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.16. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Asbury Automotive Group had a return on equity of 37.44% and a net margin of 2.37%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. equities research analysts predict that Asbury Automotive Group, Inc. will post 7.8 EPS for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

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

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