GW&K Investment Management LLC Has $33.95 Million Stock Position in Asbury Automotive Group, Inc. $ABG

GW&K Investment Management LLC lowered its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,873 shares of the company’s stock after selling 3,000 shares during the quarter. GW&K Investment Management LLC owned 0.71% of Asbury Automotive Group worth $33,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABG. Abrams Capital Management L.P. raised its stake in shares of Asbury Automotive Group by 2.2% in the third quarter. Abrams Capital Management L.P. now owns 2,155,492 shares of the company’s stock valued at $526,910,000 after purchasing an additional 46,952 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Asbury Automotive Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,104,168 shares of the company’s stock valued at $269,906,000 after buying an additional 5,757 shares during the period. Eminence Capital LP raised its stake in shares of Asbury Automotive Group by 36.0% in the 2nd quarter. Eminence Capital LP now owns 1,002,160 shares of the company’s stock valued at $239,055,000 after buying an additional 265,539 shares in the last quarter. Timucuan Asset Management Inc. FL lifted its holdings in shares of Asbury Automotive Group by 1.5% during the 2nd quarter. Timucuan Asset Management Inc. FL now owns 724,082 shares of the company’s stock worth $172,723,000 after acquiring an additional 10,924 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Asbury Automotive Group by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 472,476 shares of the company’s stock valued at $112,717,000 after acquiring an additional 3,437 shares in the last quarter.

Asbury Automotive Group Stock Down 2.2%

NYSE ABG opened at $207.75 on Friday. The stock’s 50 day simple moving average is $233.66 and its 200 day simple moving average is $237.92. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $274.50. The firm has a market cap of $4.00 billion, a PE ratio of 8.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.70 by ($0.03). The business had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.26 EPS. As a group, sell-side analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ABG shares. Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a research report on Monday, December 8th. Weiss Ratings cut Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Zacks Research lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Bank of America began coverage on Asbury Automotive Group in a research report on Wednesday. They issued a “buy” rating on the stock. Finally, Barclays dropped their price objective on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating for the company in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $247.57.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.