Koch Industries Inc. lowered its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 22.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,052 shares of the company’s stock after selling 1,148 shares during the quarter. Koch Industries Inc.’s holdings in Asbury Automotive Group were worth $274,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth about $102,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Asbury Automotive Group during the 1st quarter worth about $251,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Asbury Automotive Group during the 1st quarter worth about $259,000. Ellington Management Group LLC purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth about $333,000. Finally, Cigna Investments Inc. New purchased a new stake in shares of Asbury Automotive Group during the 1st quarter worth about $369,000.
Get Asbury Automotive Group alerts:In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $73.51, for a total value of $1,102,650.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP George A. Villasana sold 13,263 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $73.38, for a total value of $973,238.94. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on ABG. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, May 16th. Buckingham Research boosted their target price on Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, April 25th. ValuEngine cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Finally, Morgan Stanley boosted their target price on Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, March 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $67.33.
NYSE ABG opened at $73.65 on Monday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.05 and a beta of 1.54. Asbury Automotive Group, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $76.40. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.20 and a quick ratio of 0.38.
Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, April 24th. The company reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.10. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Asbury Automotive Group had a return on equity of 38.22% and a net margin of 2.23%. Asbury Automotive Group’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. sell-side analysts forecast that Asbury Automotive Group, Inc. will post 7.81 earnings per share for the current fiscal year.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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