Asbury Automotive Group, Inc. $ABG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 31.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,458 shares of the company’s stock after selling 3,032 shares during the quarter. Intech Investment Management LLC’s holdings in Asbury Automotive Group were worth $1,579,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Asbury Automotive Group by 11.0% during the first quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after acquiring an additional 619 shares in the last quarter. Goldman Sachs Group Inc. grew 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 worth $61,561,000 after purchasing an additional 91,767 shares during the last quarter. United Services Automobile Association acquired a new position in Asbury Automotive Group during the 1st quarter valued at approximately $265,000. Empowered Funds LLC raised its holdings in shares of Asbury Automotive Group by 11.4% in the first quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock worth $1,687,000 after buying an additional 783 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Asbury Automotive Group by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company’s stock worth $11,316,000 after buying an additional 1,676 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABG shares. Barclays cut their target price on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research report on Friday, February 6th. Zacks Research lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Bank of America assumed coverage on Asbury Automotive Group in a research report on Wednesday. They issued a “buy” rating on the stock. Finally, Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $247.57.

Asbury Automotive Group Stock Down 2.2%

Shares of ABG stock opened at $207.75 on Friday. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $274.50. The stock has a market cap of $4.00 billion, a P/E ratio of 8.28 and a beta of 0.81. The stock has a 50 day moving average of $233.66 and a 200 day moving average of $237.92. The company has a current ratio of 0.95, a quick ratio of 0.35 and a debt-to-equity ratio of 0.79.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing the consensus estimate of $6.70 by ($0.03). The company had revenue of $4.68 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.26 EPS. As a group, sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS 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.