Congress Asset Management Co. Has $429,000 Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Congress Asset Management Co. reduced its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 47.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,796 shares of the company’s stock after selling 1,596 shares during the quarter. Congress Asset Management Co.’s holdings in Asbury Automotive Group were worth $429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Asbury Automotive Group in the second quarter valued at about $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 valued at $67,000 after acquiring an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Asbury Automotive Group during the 2nd quarter worth approximately $155,000. Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter worth approximately $190,000. Finally, Innealta Capital LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $194,000.

Asbury Automotive Group Stock Up 0.1 %

Shares of ABG stock opened at $227.98 on Friday. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 12.90 and a beta of 1.16. The firm’s 50-day moving average is $229.78 and its 200-day moving average is $231.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.58%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company earned $8.12 EPS. Asbury Automotive Group’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts predict that Asbury Automotive Group, Inc. will post 25.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ABG shares. JPMorgan Chase & Co. increased their target price on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday. Craig Hallum lifted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday. Stephens began coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target for the company. Finally, Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $257.20.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction on 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 completion of the transaction, the insider now directly owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the transaction, the insider now directly owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Hult sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 of the company’s stock, valued at approximately $12,911,548.12. This 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 company insiders.

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.