ARP Americas LP Sells 1,457 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

ARP Americas LP decreased its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 27.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,843 shares of the company’s stock after selling 1,457 shares during the period. ARP Americas LP’s holdings in Asbury Automotive Group were worth $297,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in Asbury Automotive Group in the first quarter worth about $31,000. Mutual of America Capital Management LLC increased its holdings in Asbury Automotive Group by 22.2% during the first quarter. Mutual of America Capital Management LLC now owns 843 shares of the company’s stock valued at $47,000 after buying an additional 153 shares during the period. Aigen Investment Management LP purchased a new position in Asbury Automotive Group during the first quarter valued at approximately $72,000. PNC Financial Services Group Inc. increased its holdings in Asbury Automotive Group by 36.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,318 shares of the company’s stock valued at $72,000 after buying an additional 349 shares during the period. Finally, Denali Advisors LLC purchased a new position in Asbury Automotive Group during the first quarter valued at approximately $88,000.

NYSE:ABG traded down $1.43 on Friday, hitting $100.15. The stock had a trading volume of 298,247 shares, compared to its average volume of 275,311. The company has a quick ratio of 0.59, a current ratio of 1.48 and a debt-to-equity ratio of 1.76. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 12.26 and a beta of 1.62. The company has a fifty day moving average price of $86.73 and a two-hundred day moving average price of $78.53. Asbury Automotive Group, Inc. has a 1-year low of $39.36 and a 1-year high of $123.44.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, July 28th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. Asbury Automotive Group had a net margin of 2.32% and a return on equity of 27.89%. Asbury Automotive Group’s revenue was down 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.38 EPS. As a group, analysts anticipate that Asbury Automotive Group, Inc. will post 9.98 earnings per share for the current year.

In other news, SVP Jed Milstein sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $77.31, for a total value of $177,813.00. Following the transaction, the senior vice president now directly owns 13,977 shares in the company, valued at approximately $1,080,561.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William Frederick Stax sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $105.00, for a total transaction of $73,500.00. Following the completion of the transaction, the chief accounting officer now owns 4,731 shares in the company, valued at $496,755. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Several research firms have recently commented on ABG. TheStreet upgraded shares of Asbury Automotive Group from a “c+” rating to a “b” rating in a research note on Tuesday, July 14th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Tuesday, June 9th. Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $100.00 to $110.00 in a report on Wednesday. Morgan Stanley lifted their price objective on shares of Asbury Automotive Group from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, ValuEngine cut shares of Asbury Automotive Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $101.33.

About Asbury Automotive Group

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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