Municipal Employees Retirement System of Michigan continued to hold its stake in Asbury Automotive Group Inc (NYSE:ABG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,470 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Asbury Automotive Group were worth $269,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its stake in Asbury Automotive Group by 42.2% in the first quarter. Neuberger Berman Group LLC now owns 1,446,088 shares of the company’s stock worth $86,910,000 after buying an additional 429,046 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Asbury Automotive Group by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 774,953 shares of the company’s stock worth $47,815,000 after buying an additional 17,185 shares during the last quarter. Prudential Financial Inc. increased its stake in Asbury Automotive Group by 304.9% in the first quarter. Prudential Financial Inc. now owns 521,648 shares of the company’s stock worth $31,352,000 after buying an additional 392,811 shares during the last quarter. River Road Asset Management LLC purchased a new stake in Asbury Automotive Group during the first quarter worth approximately $21,387,000. Finally, Macquarie Group Ltd. increased its stake in Asbury Automotive Group by 12.1% in the fourth quarter. Macquarie Group Ltd. now owns 349,473 shares of the company’s stock worth $21,562,000 after buying an additional 37,823 shares during the last quarter. 99.89% of the stock is currently owned by hedge funds and other institutional investors.

Asbury Automotive Group Inc (NYSE:ABG) traded down 0.19% during trading on Thursday, reaching $53.35. 145,493 shares of the company’s stock were exchanged. Asbury Automotive Group Inc has a 1-year low of $47.50 and a 1-year high of $71.00. The company has a market capitalization of $1.11 billion, a PE ratio of 6.89 and a beta of 1.43. The company’s 50-day moving average is $55.57 and its 200-day moving average is $59.86.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.67 by $0.09. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. Asbury Automotive Group’s revenue was up .3% compared to the same quarter last year. Equities research analysts expect that Asbury Automotive Group Inc will post $6.34 earnings per share for the current fiscal year.

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A number of research firms have recently commented on ABG. BidaskClub downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday. Craig Hallum reiterated a “hold” rating and issued a $55.00 price target (down from $65.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 price target (down from $68.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $58.00 price target (down from $60.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Finally, Morgan Stanley lowered their price target on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $57.80.

In related news, SVP George Karolis sold 2,743 shares of Asbury Automotive Group stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total value of $153,553.14. Following the completion of the sale, the senior vice president now directly owns 5,083 shares in the company, valued at approximately $284,546.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas C. Deloach, Jr. sold 1,676 shares of Asbury Automotive Group stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $59.20, for a total value of $99,219.20. Following the completion of the sale, the director now owns 82,000 shares of the company’s stock, valued at $4,854,400. The disclosure for this sale can be found here. Insiders have sold 16,919 shares of company stock valued at $969,522 over the last 90 days. Corporate insiders own 11.90% of the company’s stock.

About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

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

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