Seven Six Capital Management LLC Has $5.11 Million Stock Holdings in Asbury Automotive Group, Inc. $ABG

Seven Six Capital Management LLC boosted its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 17.0% during the first quarter, HoldingsChannel reports. The fund owned 26,158 shares of the company’s stock after buying an additional 3,800 shares during the quarter. Asbury Automotive Group comprises 5.4% of Seven Six Capital Management LLC’s holdings, making the stock its 7th biggest position. Seven Six Capital Management LLC’s holdings in Asbury Automotive Group were worth $5,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABG. Norges Bank bought a new stake in shares of Asbury Automotive Group during the 4th quarter valued at about $77,963,000. Thrivent Financial for Lutherans raised its holdings in shares of Asbury Automotive Group by 106.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after acquiring an additional 152,669 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Asbury Automotive Group during the 3rd quarter worth approximately $32,684,000. Goldman Sachs Group Inc. lifted its position in Asbury Automotive Group by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after acquiring an additional 91,767 shares during the period. Finally, J. Goldman & Co LP purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth $12,761,000.

Asbury Automotive Group Trading Up 2.8%

Shares of ABG opened at $247.84 on Thursday. The firm has a 50-day moving average price of $204.37 and a 200 day moving average price of $209.48. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $4.61 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.38 and a beta of 0.74. Asbury Automotive Group, Inc. has a 12-month low of $172.01 and a 12-month high of $263.38.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, topping the consensus estimate of $6.31 by $0.51. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.74%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.43 EPS. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 26.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a report on Thursday, May 7th. Citigroup lowered their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Barclays set a $265.00 price target on Asbury Automotive Group in a report on Wednesday. Finally, Morgan Stanley set a $220.00 price objective on shares of Asbury Automotive Group in a research note on Thursday, May 7th. Two research 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. According to MarketBeat, Asbury Automotive Group has an average rating of “Hold” and an average price target of $244.14.

Insider Activity at Asbury Automotive Group

In other news, Director B. Christopher Disantis acquired 157 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $182.31 per share, with a total value of $28,622.67. Following the completion of the transaction, the director directly owned 6,400 shares in the company, valued at approximately $1,166,784. This represents a 2.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Key Headlines Impacting Asbury Automotive Group

Here are the key news stories impacting Asbury Automotive Group this week:

• Positive Sentiment: Adjusted earnings were $6.82 per share, above the $6.31 analyst consensus. Used-vehicle gains helped offset weaker new-vehicle margins, with used retail gross profit per unit rising 16% to $2,002. ABG Q2 Earnings Beat on Used-Vehicle Gains, Revenues Miss
• Positive Sentiment: Asbury repurchased approximately 668,000 shares for $131 million during the quarter. The buybacks can support per-share earnings and contributed to investor optimism about the company’s valuation and capital-allocation strategy. Asbury Automotive Group Is Up After Q2 Beat and Aggressive Buybacks
• Positive Sentiment: Gross profit reached approximately $753 million, while liquidity stood at $966 million at quarter-end. Management also reported that 70% of stores had converted to the Tekion platform, indicating continued progress on its technology rollout. Asbury Automotive Q2 Revenue Reaches $4.4 Billion as Net Income Falls
• Neutral Sentiment: Investor commentary is divided: some analysts view the solid quarter and buybacks as evidence that ABG remains undervalued, while others question whether the recent rally has already reflected the earnings improvement. Asbury Automotive: Solid Q2 Leaves Shares Meaningfully Undervalued
• Negative Sentiment: Revenue of approximately $4.38 billion fell short of the $4.49 billion consensus and increased only 0.3% year over year. GAAP net income declined to about $115 million from $153 million, while diluted GAAP EPS fell to $6.25 from $7.76 in the prior-year quarter. Asbury Automotive Group Quarterly Earnings Results

Asbury Automotive Group Company Profile

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.