Maryland State Retirement & Pension System Cuts Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Maryland State Retirement & Pension System reduced its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,596 shares of the company’s stock after selling 151 shares during the period. Maryland State Retirement & Pension System’s holdings in Asbury Automotive Group were worth $1,603,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of Asbury Automotive Group during the third quarter worth about $1,223,000. Magnolia Group LLC boosted its holdings in shares of Asbury Automotive Group by 2.1% during the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock worth $36,241,000 after purchasing an additional 3,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $221,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Asbury Automotive Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock worth $51,465,000 after purchasing an additional 3,273 shares during the period. Finally, Empirical Asset Management LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $484,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABG. Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Stephens increased their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, 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. Six research 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 presently has a consensus rating of “Hold” and a consensus price target of $264.00.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $233.44 on Friday. Asbury Automotive Group, Inc. has a fifty-two week low of $206.62 and a fifty-two week high of $312.56. The company has a 50 day simple moving average of $267.71 and a two-hundred day simple moving average of $250.17. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 10.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

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.