River Road Asset Management LLC Sells 12,669 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

River Road Asset Management LLC cut its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 19.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,961 shares of the company’s stock after selling 12,669 shares during the quarter. River Road Asset Management LLC’s holdings in Asbury Automotive Group were worth $12,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Asbury Automotive Group in the 3rd quarter worth approximately $31,000. Quarry LP purchased a new stake in Asbury Automotive Group in the 2nd quarter worth approximately $38,000. GAMMA Investing LLC lifted its stake in Asbury Automotive Group by 100.0% in the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Asbury Automotive Group in the 2nd quarter worth approximately $155,000. Finally, Headlands Technologies LLC purchased a new stake in Asbury Automotive Group in the 2nd quarter worth approximately $190,000.

Wall Street Analysts Forecast Growth

ABG has been the topic of several recent analyst reports. Stephens initiated coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Bank of America decreased their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $242.06 on Wednesday. The firm has a market cap of $4.74 billion, a PE ratio of 13.70 and a beta of 1.16. Asbury Automotive Group, Inc. has a 12-month low of $195.09 and a 12-month high of $277.13. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The company’s fifty day simple moving average is $229.40 and its two-hundred day simple moving average is $232.09.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the business earned $8.12 EPS. Asbury Automotive Group’s revenue was up 15.6% on a year-over-year basis. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 25.59 EPS for the current year.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Asbury Automotive Group Profile

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.