Asbury Automotive Group, Inc. (NYSE:ABG) is Magnolia Group LLC’s 5th Largest Position

Magnolia Group LLC raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,123 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Asbury Automotive Group accounts for approximately 6.2% of Magnolia Group LLC’s investment portfolio, making the stock its 5th biggest holding. Magnolia Group LLC owned about 0.76% of Asbury Automotive Group worth $36,241,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Asbury Automotive Group by 234.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock valued at $122,000 after acquiring an additional 351 shares during the last quarter. KBC Group NV increased its position in shares of Asbury Automotive Group by 52.3% in the 4th quarter. KBC Group NV now owns 769 shares of the company’s stock valued at $187,000 after purchasing an additional 264 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Asbury Automotive Group by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock valued at $204,000 after buying an additional 123 shares during the last quarter. Stephens Inc. AR purchased a new position in shares of Asbury Automotive Group in the 4th quarter valued at $213,000. Finally, Highland Capital Management LLC purchased a new position in shares of Asbury Automotive Group in the 4th quarter valued at $216,000.

Insider Buying and Selling

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $243.00 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a twelve month low of $202.98 and a twelve month high of $312.56. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.30 and a beta of 1.22. The firm has a 50-day moving average of $268.64 and a two-hundred day moving average of $250.81.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Stephens raised their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $264.00.

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.