Mangrove Partners bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,155 shares of the company’s stock, valued at approximately $2,881,000. Asbury Automotive Group makes up about 0.5% of Mangrove Partners’ investment portfolio, making the stock its 23rd biggest holding. Mangrove Partners owned 0.23% of Asbury Automotive Group at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Asbury Automotive Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock worth $125,000 after buying an additional 331 shares during the last quarter. Parametrica Management Ltd bought a new stake in Asbury Automotive Group in the third quarter worth $223,000. Public Employees Retirement System of Ohio lifted its position in Asbury Automotive Group by 10.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,673 shares of the company’s stock worth $208,000 after buying an additional 340 shares during the last quarter. Stevens Capital Management LP bought a new stake in Asbury Automotive Group in the second quarter worth $220,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Asbury Automotive Group in the second quarter worth $230,000.

In other news, Director Dennis E. Clements sold 5,000 shares of Asbury Automotive Group stock in a transaction on Friday, September 15th. The stock was sold at an average price of $58.66, for a total transaction of $293,300.00. Following the completion of the sale, the director now directly owns 20,531 shares in the company, valued at $1,204,348.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Juanita T. James sold 1,500 shares of Asbury Automotive Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $66.16, for a total value of $99,240.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,884 shares of company stock valued at $16,719,320. Corporate insiders own 11.90% of the company’s stock.

ABG has been the subject of a number of analyst reports. Jefferies Group restated a “hold” rating and issued a $61.00 price target on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Zacks Investment Research downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Two 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 company’s stock. Asbury Automotive Group presently has a consensus rating of “Hold” and an average target price of $56.75.

Shares of Asbury Automotive Group, Inc. (ABG) opened at $67.75 on Monday. The stock has a market capitalization of $1,410.40, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.21 and a beta of 1.56. Asbury Automotive Group, Inc. has a 52-week low of $49.10 and a 52-week high of $71.00. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.25 and a quick ratio of 0.38.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.09). Asbury Automotive Group had a return on equity of 42.24% and a net margin of 2.54%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. analysts anticipate that Asbury Automotive Group, Inc. will post 6.25 EPS for the current year.

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Asbury Automotive Group 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.

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

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