LRT Capital Management LLC Sells 12,404 Shares of Asbury Automotive Group, Inc. $ABG

LRT Capital Management LLC cut its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 39.3% during the 3rd quarter, Holdings Channel reports. The fund owned 19,124 shares of the company’s stock after selling 12,404 shares during the period. Asbury Automotive Group comprises approximately 3.1% of LRT Capital Management LLC’s investment portfolio, making the stock its largest position. LRT Capital Management LLC’s holdings in Asbury Automotive Group were worth $4,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new stake in Asbury Automotive Group in the second quarter valued at $77,544,000. Eminence Capital LP raised its holdings in shares of Asbury Automotive Group by 36.0% during the second quarter. Eminence Capital LP now owns 1,002,160 shares of the company’s stock valued at $239,055,000 after purchasing an additional 265,539 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Asbury Automotive Group by 545.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 143,388 shares of the company’s stock worth $35,051,000 after purchasing an additional 121,183 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Asbury Automotive Group by 261.7% during the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 shares in the last quarter. Finally, River Road Asset Management LLC grew its stake in shares of Asbury Automotive Group by 122.0% in the 2nd quarter. River Road Asset Management LLC now owns 199,952 shares of the company’s stock valued at $44,413,000 after buying an additional 109,896 shares during the period.

Analyst Ratings Changes

ABG has been the subject of a number of research analyst reports. Barclays decreased their target price on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating for the company in a research report on Friday, February 6th. Morgan Stanley set a $230.00 price target on Asbury Automotive Group in a report on Monday, December 8th. Bank of America started coverage on Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a “buy” rating for the company. Finally, Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Asbury Automotive Group presently has a consensus rating of “Hold” and an average target price of $247.57.

Asbury Automotive Group Stock Down 2.7%

Shares of NYSE ABG opened at $191.15 on Tuesday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 7.62 and a beta of 0.81. The company has a 50-day moving average price of $228.36 and a 200-day moving average price of $235.29. Asbury Automotive Group, Inc. has a 1 year low of $189.91 and a 1 year high of $274.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing the consensus estimate of $6.70 by ($0.03). Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The business had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm earned $7.26 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In related news, Director B. Christopher Disantis acquired 500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average cost of $202.30 per share, with a total value of $101,150.00. Following the acquisition, the director owned 5,400 shares of the company’s stock, valued at approximately $1,092,420. This trade represents a 10.20% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Asbury Automotive Group 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.