Salvus Wealth Management LLC Has $3.28 Million Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Salvus Wealth Management LLC lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,495 shares of the company’s stock after selling 44 shares during the period. Asbury Automotive Group makes up about 2.1% of Salvus Wealth Management LLC’s holdings, making the stock its 13th largest holding. Salvus Wealth Management LLC’s holdings in Asbury Automotive Group were worth $3,280,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after buying an additional 69,975 shares during the last quarter. Seven Eight Capital LP acquired a new position in Asbury Automotive Group during the second quarter worth $212,000. Bridges Investment Management Inc. acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter worth about $760,000. Sei Investments Co. grew its stake in Asbury Automotive Group by 3.8% during the second quarter. Sei Investments Co. now owns 25,823 shares of the company’s stock worth $5,884,000 after buying an additional 945 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Asbury Automotive Group by 5.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 44,382 shares of the company’s stock worth $10,113,000 after buying an additional 2,205 shares in the last quarter.

Asbury Automotive Group Stock Performance

ABG opened at $245.37 on Friday. The firm has a market capitalization of $4.81 billion, a PE ratio of 13.89 and a beta of 1.19. The business’s 50-day simple moving average is $252.20 and its 200 day simple moving average is $240.54. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data 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). The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $8.12 EPS. As a group, sell-side analysts expect that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ABG shares. Bank of America decreased their price objective on 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. JPMorgan Chase & Co. cut their target price 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, November 5th. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Company 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.