Eminence Capital LP Sells 46,013 Shares of Asbury Automotive Group, Inc. $ABG

Eminence Capital LP reduced its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 926,392 shares of the company’s stock after selling 46,013 shares during the period. Asbury Automotive Group comprises 3.4% of Eminence Capital LP’s investment portfolio, making the stock its 11th largest holding. Eminence Capital LP owned approximately 4.77% of Asbury Automotive Group worth $215,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Asbury Automotive Group in the fourth quarter valued at $77,963,000. Thrivent Financial for Lutherans increased its holdings in Asbury Automotive Group by 106.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after purchasing an additional 152,669 shares during the period. Woodline Partners LP acquired a new stake in Asbury Automotive Group in the third quarter valued at $32,684,000. American Century Companies Inc. increased its holdings in Asbury Automotive Group by 261.7% in the third quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock valued at $39,025,000 after purchasing an additional 115,504 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Asbury Automotive Group by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after purchasing an additional 91,767 shares during the period.

Analyst Ratings Changes

Several analysts recently commented on ABG shares. UBS Group started coverage on Asbury Automotive Group in a report on Wednesday, May 27th. They issued a “neutral” rating and a $202.00 target price on the stock. Barclays upped their target price on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a report on Thursday, May 7th. Bank of America started coverage on Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $242.00 target price on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $232.00.

Insider Activity

In other Asbury Automotive Group news, Director B. Christopher Disantis purchased 157 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the acquisition, the director owned 6,400 shares of the company’s stock, valued at approximately $1,166,784. This represents a 2.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $190.35 on Thursday. The business’s 50 day simple moving average is $196.16 and its 200 day simple moving average is $215.12. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $274.50. The stock has a market capitalization of $3.54 billion, a PE ratio of 6.74, a PEG ratio of 1.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.Asbury Automotive Group’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.82 earnings per share. As a group, research analysts forecast that Asbury Automotive Group, Inc. will post 25.68 earnings per share for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.