Financial Strategies Group Inc. Takes $450,000 Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Financial Strategies Group Inc. acquired a new position in Asbury Automotive Group, Inc. (NYSE:ABG) in the third quarter, Holdings Channel reports. The fund acquired 1,996 shares of the company’s stock, valued at approximately $450,000.

A number of other hedge funds also recently bought and sold shares of ABG. BNP Paribas Financial Markets raised its holdings in Asbury Automotive Group by 26.4% in the first quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock worth $4,768,000 after purchasing an additional 4,224 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Asbury Automotive Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 18,009 shares of the company’s stock valued at $4,246,000 after acquiring an additional 234 shares during the last quarter. Quantbot Technologies LP boosted its stake in Asbury Automotive Group by 126.4% in the first quarter. Quantbot Technologies LP now owns 11,047 shares of the company’s stock valued at $2,605,000 after acquiring an additional 6,167 shares in the last quarter. Empowered Funds LLC increased its position in shares of Asbury Automotive Group by 11.7% during the first quarter. Empowered Funds LLC now owns 4,068 shares of the company’s stock worth $959,000 after purchasing an additional 427 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Asbury Automotive Group during the 1st quarter valued at $842,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday. Stephens started coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective on the stock. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, Craig Hallum lifted their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $256.20.

Insider Buying and Selling 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 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Asbury Automotive Group news, 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 value of $1,884,687.39. Following the sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David W. Hult sold 500 shares of the firm’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 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 trade was 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 Price Performance

Shares of NYSE ABG opened at $260.14 on Friday. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13. The business’s 50 day moving average price is $230.12 and its 200 day moving average price is $232.47. 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 firm has a market cap of $5.10 billion, a P/E ratio of 14.72 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $8.12 earnings per share. On average, sell-side analysts expect that Asbury Automotive Group, Inc. will post 25.54 earnings per share for the current year.

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.