Rhumbline Advisers reduced its holdings in Asbury Automotive Group Inc (NYSE:ABG) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,090 shares of the company’s stock after selling 3,372 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Asbury Automotive Group worth $2,380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABG. Teachers Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 4.9% in the 4th quarter. Teachers Advisors LLC now owns 36,421 shares of the company’s stock worth $2,247,000 after acquiring an additional 1,692 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Asbury Automotive Group in the 1st quarter worth approximately $356,000. Russell Investments Group Ltd. boosted its holdings in shares of Asbury Automotive Group by 488.2% in the 1st quarter. Russell Investments Group Ltd. now owns 10,000 shares of the company’s stock worth $601,000 after acquiring an additional 8,300 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Asbury Automotive Group by 15,250.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 92,100 shares of the company’s stock worth $5,535,000 after acquiring an additional 91,500 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Asbury Automotive Group by 3.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 26,916 shares of the company’s stock worth $1,617,000 after acquiring an additional 974 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors and hedge funds.

Asbury Automotive Group Inc (NYSE ABG) opened at 57.60 on Wednesday. The firm has a market cap of $1.20 billion, a P/E ratio of 7.49 and a beta of 1.42. The firm’s 50-day moving average price is $53.03 and its 200 day moving average price is $57.25. Asbury Automotive Group Inc has a 12-month low of $47.50 and a 12-month high of $71.00.

Asbury Automotive Group (NYSE:ABG) last posted its 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). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS. Analysts forecast that Asbury Automotive Group Inc will post $6.34 earnings per share for the current fiscal year.

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Several research firms have issued reports on ABG. Zacks Investment Research raised Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. TheStreet downgraded Asbury Automotive Group from a “b-” rating to a “c+” rating in a report on Thursday, August 10th. Deutsche Bank AG reaffirmed a “hold” rating and set a $58.00 price objective (down previously from $60.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price objective (down previously from $68.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Finally, BidaskClub downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $57.80.

In other Asbury Automotive Group news, insider William Frederick Stax sold 495 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $54.25, for a total transaction of $26,853.75. Following the sale, the insider now owns 4,586 shares of the company’s stock, valued at $248,790.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Msd Capital L. P sold 104,949 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $51.27, for a total transaction of $5,380,735.23. The disclosure for this sale can be found here. 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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