Geode Capital Management LLC Sells 3,074 Shares of Asbury Automotive Group, Inc. $ABG

Geode Capital Management LLC lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 474,690 shares of the company’s stock after selling 3,074 shares during the period. Geode Capital Management LLC owned 2.44% of Asbury Automotive Group worth $110,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABG. SG Americas Securities LLC increased its holdings in Asbury Automotive Group by 1,570.2% during the 4th quarter. SG Americas Securities LLC now owns 9,086 shares of the company’s stock worth $2,113,000 after purchasing an additional 8,542 shares during the period. American Century Companies Inc. increased its holdings in Asbury Automotive Group by 261.7% during the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 shares during the period. Dimensional Fund Advisors LP increased its holdings in Asbury Automotive Group by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,104,168 shares of the company’s stock worth $269,906,000 after purchasing an additional 5,757 shares during the period. Public Sector Pension Investment Board increased its holdings in Asbury Automotive Group by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 76,656 shares of the company’s stock worth $18,739,000 after purchasing an additional 9,632 shares during the period. Finally, Abrams Capital Management L.P. increased its holdings in Asbury Automotive Group by 2.2% during the 3rd quarter. Abrams Capital Management L.P. now owns 2,155,492 shares of the company’s stock worth $526,910,000 after purchasing an additional 46,952 shares during the period.

Insider Buying and Selling

In other news, Director B. Christopher Disantis purchased 157 shares of the stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $182.31 per share, with a total value of $28,622.67. Following the transaction, the director owned 6,400 shares in the company, valued at $1,166,784. The trade was a 2.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Asbury Automotive Group Stock Up 0.4%

Shares of ABG stock opened at $190.95 on Friday. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $274.50. The stock’s fifty day moving average price is $195.77 and its 200 day moving average price is $216.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the firm earned $6.82 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts expect that Asbury Automotive Group, Inc. will post 25.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings downgraded Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. UBS Group started coverage on Asbury Automotive Group in a report on Wednesday, May 27th. They issued a “neutral” rating and a $202.00 price target on the stock. Bank of America started coverage on Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Morgan Stanley set a $220.00 price target on Asbury Automotive Group in a report on Thursday, May 7th. Finally, Stephens reiterated an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $232.00.

About Asbury Automotive Group

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.