Asbury Automotive Group, Inc. $ABG Position Lowered by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,395 shares of the company’s stock after selling 2,795 shares during the period. Brandywine Global Investment Management LLC’s holdings in Asbury Automotive Group were worth $17,997,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new position in Asbury Automotive Group in the fourth quarter worth about $25,000. CIBC Asset Management Inc lifted its holdings in Asbury Automotive Group by 2.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,937 shares of the company’s stock worth $450,000 after acquiring an additional 50 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Asbury Automotive Group by 10.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 120,324 shares of the company’s stock worth $27,979,000 after acquiring an additional 11,079 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Asbury Automotive Group by 10.0% in the fourth quarter. Natixis Advisors LLC now owns 207,820 shares of the company’s stock worth $48,324,000 after acquiring an additional 18,843 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Asbury Automotive Group in the fourth quarter worth about $214,000.

Insider Buying and Selling

In other news, Director B. Christopher Disantis bought 157 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $182.31 per share, with a total value of $28,622.67. Following the completion of the acquisition, the director directly owned 6,400 shares in the company, valued at approximately $1,166,784. This trade represents a 2.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ABG shares. Barclays raised their target price on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Stephens restated an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a research note on Thursday, May 7th. Citigroup dropped their price target on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Finally, Bank of America started coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $232.00.

Asbury Automotive Group Price Performance

NYSE ABG opened at $194.30 on Tuesday. Asbury Automotive Group, Inc. has a 12 month low of $172.01 and a 12 month high of $274.50. The firm has a market capitalization of $3.62 billion, a PE ratio of 6.88, a P/E/G ratio of 1.05 and a beta of 0.74. The company’s 50 day simple moving average is $195.68 and its 200 day simple moving average is $216.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, April 28th. The company reported $5.37 EPS 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 firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the firm earned $6.82 EPS. Asbury Automotive Group’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Asbury Automotive Group, Inc. will post 25.68 EPS for the current fiscal year.

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.