Sage Rhino Capital LLC Makes New $208,000 Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Sage Rhino Capital LLC purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 911 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Asbury Automotive Group during the 4th quarter valued at approximately $12,855,000. GAMMA Investing LLC purchased a new position in shares of Asbury Automotive Group during the 4th quarter valued at approximately $48,000. Russell Investments Group Ltd. increased its holdings in shares of Asbury Automotive Group by 2.4% during the 4th quarter. Russell Investments Group Ltd. now owns 16,876 shares of the company’s stock valued at $3,797,000 after purchasing an additional 399 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Asbury Automotive Group by 18.7% during the 4th quarter. Van ECK Associates Corp now owns 18,202 shares of the company’s stock valued at $4,095,000 after purchasing an additional 2,872 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Asbury Automotive Group by 18.9% during the 4th quarter. LSV Asset Management now owns 48,500 shares of the company’s stock valued at $10,911,000 after purchasing an additional 7,700 shares in the last quarter.

Asbury Automotive Group Price Performance

NYSE ABG traded up $3.44 on Friday, hitting $245.64. The company had a trading volume of 611,407 shares, compared to its average volume of 172,224. The company has a market capitalization of $4.96 billion, a PE ratio of 8.95 and a beta of 1.16. The company’s fifty day moving average price is $237.95 and its 200-day moving average price is $228.07. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.38. Asbury Automotive Group, Inc. has a 12-month low of $178.40 and a 12-month high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $8.95 EPS. As a group, analysts predict that Asbury Automotive Group, Inc. will post 29.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABG has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lowered shares of Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price target for the company. in a report on Monday, June 10th. Finally, StockNews.com lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th.

Insider Activity at Asbury Automotive Group

In related news, CEO David W. Hult sold 500 shares of the business’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 directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The disclosure for this sale can be found here. 0.53% of the stock is owned by 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.