Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Jennison Associates LLC


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Jennison Associates LLC trimmed its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 17.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,894 shares of the company’s stock after selling 1,624 shares during the quarter. Jennison Associates LLC’s holdings in Asbury Automotive Group were worth $1,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IndexIQ Advisors LLC boosted its position in shares of Asbury Automotive Group by 11.5% in the fourth quarter. IndexIQ Advisors LLC now owns 3,792 shares of the company’s stock worth $553,000 after buying an additional 391 shares during the period. BlackRock Inc. boosted its position in shares of Asbury Automotive Group by 3.2% in the fourth quarter. BlackRock Inc. now owns 3,062,866 shares of the company’s stock worth $446,381,000 after buying an additional 94,388 shares during the period. Aperio Group LLC boosted its position in shares of Asbury Automotive Group by 8.3% in the fourth quarter. Aperio Group LLC now owns 6,896 shares of the company’s stock worth $1,005,000 after buying an additional 528 shares during the period. Community Capital Management Inc. acquired a new stake in shares of Asbury Automotive Group in the fourth quarter worth $1,312,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Asbury Automotive Group in the fourth quarter worth $364,000.

Shares of NYSE:ABG opened at $163.88 on Tuesday. Asbury Automotive Group, Inc. has a fifty-two week low of $88.74 and a fifty-two week high of $269.28. The business has a 50-day moving average of $157.63 and a two-hundred day moving average of $126.95. The stock has a market capitalization of $3.16 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.61 and a beta of 1.75. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.07 and a quick ratio of 0.39.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Monday, February 1st. The company reported $4.44 earnings per share for the quarter, topping analysts’ consensus estimates of $4.13 by $0.31. Asbury Automotive Group had a return on equity of 29.87% and a net margin of 3.08%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 12.53 EPS for the current fiscal year.

Several brokerages have recently commented on ABG. Truist raised their target price on Asbury Automotive Group from $130.00 to $180.00 in a research report on Friday, January 15th. JPMorgan Chase & Co. lifted their price objective on Asbury Automotive Group from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, January 15th. Morgan Stanley lifted their price objective on Asbury Automotive Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 18th. Bank of America reduced their price objective on Asbury Automotive Group from $170.00 to $166.00 and set a “buy” rating for the company in a research report on Tuesday, November 17th. Finally, Craig Hallum lifted their price objective on Asbury Automotive Group from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $147.13.

In other Asbury Automotive Group news, CEO David W. Hult sold 25,000 shares of the business’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $162.29, for a total value of $4,057,250.00. Following the completion of the sale, the chief executive officer now owns 85,741 shares of the company’s stock, valued at $13,914,906.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jed Milstein sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $320,000.00. Following the completion of the sale, the senior vice president now directly owns 13,114 shares of the company’s stock, valued at approximately $2,098,240. The disclosure for this sale can be found here. Insiders sold 28,477 shares of company stock valued at $4,620,238 in the last ninety days. Insiders own 1.01% 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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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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