Mackay Shields LLC grew its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,300 shares of the company’s stock after buying an additional 3,200 shares during the period. Mackay Shields LLC owned 0.22% of Asbury Automotive Group worth $4,329,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Asbury Automotive Group by 0.7% during the second quarter. Arizona State Retirement System now owns 30,277 shares of the company’s stock valued at $2,554,000 after buying an additional 197 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Asbury Automotive Group by 21.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,367 shares of the company’s stock worth $140,000 after purchasing an additional 245 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Asbury Automotive Group during the second quarter worth approximately $25,000. Aperio Group LLC raised its holdings in Asbury Automotive Group by 5.6% during the second quarter. Aperio Group LLC now owns 8,985 shares of the company’s stock worth $758,000 after purchasing an additional 474 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Asbury Automotive Group by 15.2% during the second quarter. GSA Capital Partners LLP now owns 3,747 shares of the company’s stock worth $316,000 after purchasing an additional 495 shares in the last quarter.
NYSE:ABG traded up $0.93 during midday trading on Friday, hitting $109.06. 96,744 shares of the stock were exchanged, compared to its average volume of 161,816. Asbury Automotive Group, Inc. has a one year low of $61.47 and a one year high of $109.75. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 0.82 and a beta of 1.22. The business has a 50-day moving average price of $101.90 and a two-hundred day moving average price of $89.61. The company has a current ratio of 1.17, a quick ratio of 0.34 and a debt-to-equity ratio of 1.55.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, October 22nd. The company reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Asbury Automotive Group had a return on equity of 33.14% and a net margin of 2.55%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 earnings per share. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 9.31 EPS for the current fiscal year.
Several equities research analysts recently commented on the company. Craig Hallum boosted their target price on Asbury Automotive Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Bank of America cut Asbury Automotive Group from a “buy” rating to a “neutral” rating in a report on Friday, September 13th. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley boosted their target price on Asbury Automotive Group from $86.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, ValuEngine raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $106.25.
In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 2,000 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $91.00, for a total value of $182,000.00. Following the transaction, the director now owns 15,703 shares in the company, valued at $1,428,973. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.36% of the company’s stock.
Asbury Automotive Group Profile
Asbury Automotive Group, Inc, together with its subsidiaries, 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 services, replacement parts, and collision repair services.
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