Macquarie Group Ltd. raised its stake in Asbury Automotive Group Inc. (NYSE:ABG) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 313,899 shares of the company’s stock after buying an additional 9,347 shares during the period. Macquarie Group Ltd. owned approximately 1.42% of Asbury Automotive Group worth $16,555,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Burgundy Asset Management Ltd. increased its position in shares of Asbury Automotive Group by 44.9% in the second quarter. Burgundy Asset Management Ltd. now owns 1,128,645 shares of the company’s stock valued at $59,525,000 after buying an additional 349,528 shares during the period. Lombardia Capital Partners LLC acquired a new position in shares of Asbury Automotive Group during the second quarter valued at $12,285,000. New Amsterdam Partners LLC NY acquired a new position in shares of Asbury Automotive Group during the second quarter valued at $5,301,000. PNC Financial Services Group Inc. increased its position in shares of Asbury Automotive Group by 66.4% in the second quarter. PNC Financial Services Group Inc. now owns 249,078 shares of the company’s stock valued at $13,136,000 after buying an additional 99,426 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Asbury Automotive Group by 22.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 407,947 shares of the company’s stock valued at $21,515,000 after buying an additional 75,000 shares during the period.

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

Shares of Asbury Automotive Group Inc. (NYSE:ABG) traded down 1.33% on Monday, hitting $59.55. The stock had a trading volume of 129,614 shares. The stock has a market cap of $1.32 billion, a P/E ratio of 9.87 and a beta of 1.26. The firm has a 50 day moving average of $54.18 and a 200 day moving average of $55.05. Asbury Automotive Group Inc. has a 12 month low of $43.56 and a 12 month high of $76.84.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by $0.09. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Asbury Automotive Group had a return on equity of 52.74% and a net margin of 2.17%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.43 earnings per share. On average, equities analysts forecast that Asbury Automotive Group Inc. will post $5.96 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Raises Stake in Asbury Automotive Group Inc. (ABG)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2016/11/28/macquarie-group-ltd-raises-stake-in-asbury-automotive-group-inc-abg.html.

ABG has been the topic of several research reports. Jefferies Group reiterated a “hold” rating and issued a $55.00 price target (down previously from $60.00) on shares of Asbury Automotive Group in a report on Friday, October 28th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, September 27th. Finally, Wolfe Research began coverage on shares of Asbury Automotive Group in a research note on Tuesday, September 13th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $69.50.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.

5 Day Chart for NYSE:ABG

Receive News & Stock Ratings for Asbury Automotive Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group Inc. and related stocks with our FREE daily email newsletter.