BlackRock Inc. boosted its stake in shares of Asbury Automotive Group Inc (NYSE:ABG) by 116,095.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,514,474 shares of the company’s stock after buying an additional 2,512,310 shares during the period. BlackRock Inc.’s holdings in Asbury Automotive Group were worth $151,120,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ABG. Vanguard Group Inc. raised its stake in shares of Asbury Automotive Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,777,156 shares of the company’s stock valued at $106,807,000 after buying an additional 62,076 shares during the period. Neuberger Berman Group LLC raised its stake in shares of 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 valued at $86,910,000 after buying an additional 429,046 shares during the period. Dimensional Fund Advisors LP increased its position in Asbury Automotive Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 787,194 shares of the company’s stock valued at $47,312,000 after buying an additional 12,241 shares in the last quarter. FMR LLC acquired a new position in Asbury Automotive Group during the first quarter valued at $45,869,000. Finally, Prudential Financial Inc. increased its position in Asbury Automotive Group by 304.9% in the first quarter. Prudential Financial Inc. now owns 521,648 shares of the company’s stock valued at $31,352,000 after buying an additional 392,811 shares in the last quarter. Institutional investors own 99.89% of the company’s stock.

Shares of Asbury Automotive Group Inc (NYSE ABG) traded up 1.00% on Friday, hitting $50.65. 158,145 shares of the company were exchanged. Asbury Automotive Group Inc has a 52-week low of $47.50 and a 52-week high of $71.00. The company has a 50-day moving average price of $54.57 and a 200 day moving average price of $58.80. The firm has a market cap of $1.06 billion, a P/E ratio of 6.59 and a beta of 1.42.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $1.65 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts predict that Asbury Automotive Group Inc will post $6.34 EPS for the current fiscal year.

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ABG has been the topic of several research reports. Zacks Investment Research downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Morgan Stanley reduced their target price on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Deutsche Bank AG reaffirmed a “hold” rating and set a $58.00 target price (down from $60.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. BidaskClub downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price (down from $68.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Asbury Automotive Group presently has an average rating of “Hold” and an average price target of $57.80.

In other news, SVP George Karolis sold 2,743 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total transaction of $153,553.14. Following the sale, the senior vice president now owns 5,083 shares in the company, valued at $284,546.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David W. Hult sold 12,500 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total value of $716,750.00. Following the sale, the chief operating officer now owns 41,911 shares in the company, valued at approximately $2,403,176.74. The disclosure for this sale can be found here. Insiders sold 120,687 shares of company stock worth $6,277,892 over the last quarter. Company insiders own 11.90% of the company’s stock.

Asbury Automotive Group Company Profile

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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