Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 31.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,589 shares of the company’s stock after buying an additional 4,198 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Asbury Automotive Group worth $3,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in Asbury Automotive Group during the fourth quarter valued at $12,855,000. Blue Trust Inc. boosted its stake in shares of Asbury Automotive Group by 31.2% during the 4th quarter. Blue Trust Inc. now owns 244 shares of the company’s stock worth $56,000 after purchasing an additional 58 shares during the period. Advisor Resource Council bought a new position in Asbury Automotive Group during the 4th quarter valued at about $247,000. Deutsche Bank AG grew its holdings in Asbury Automotive Group by 9.2% during the 3rd quarter. Deutsche Bank AG now owns 10,324 shares of the company’s stock valued at $2,375,000 after purchasing an additional 870 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in Asbury Automotive Group in the 3rd quarter worth about $327,000.

Asbury Automotive Group Trading Up 0.6 %

ABG stock opened at $216.45 on Wednesday. Asbury Automotive Group, Inc. has a 12 month low of $178.40 and a 12 month high of $256.39. The firm’s 50-day moving average is $216.87 and its 200 day moving average is $213.08. The company has a market capitalization of $4.37 billion, a PE ratio of 7.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Thursday, February 8th. The company reported $7.12 EPS for the quarter, missing analysts’ consensus estimates of $7.74 by ($0.62). Asbury Automotive Group had a return on equity of 21.68% and a net margin of 4.07%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the business posted $9.12 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Asbury Automotive Group, Inc. will post 31.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research report on Thursday, February 8th.

Insider Buying and Selling at Asbury Automotive Group

In other news, SVP Jed Milstein sold 3,955 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the transaction, the senior vice president now owns 8,300 shares of the company’s stock, valued at approximately $1,734,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Company 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.