Russell Investments Group Ltd. cut its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 51.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,947 shares of the company’s stock after selling 10,405 shares during the period. Russell Investments Group Ltd.’s holdings in Asbury Automotive Group were worth $608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Asbury Automotive Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock valued at $125,000 after purchasing an additional 331 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of 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 valued at $208,000 after purchasing an additional 340 shares during the period. Stevens Capital Management LP purchased a new position in shares of Asbury Automotive Group in the second quarter valued at approximately $220,000. Parametrica Management Ltd purchased a new position in shares of Asbury Automotive Group in the third quarter valued at approximately $223,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Asbury Automotive Group in the second quarter valued at approximately $230,000.

Several research analysts have recently commented on ABG shares. TheStreet raised shares of Asbury Automotive Group from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Jefferies Group reiterated a “hold” rating and issued a $61.00 price target on shares of Asbury Automotive Group in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $56.75.

Asbury Automotive Group, Inc. (ABG) opened at $63.50 on Thursday. Asbury Automotive Group, Inc. has a 12 month low of $49.10 and a 12 month high of $71.00. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60. The stock has a market cap of $1,320.00, a P/E ratio of 8.25, a P/E/G ratio of 1.11 and a beta of 1.56.

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 firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The firm’s revenue was down 4.8% compared to the same quarter last year. equities research analysts forecast that Asbury Automotive Group, Inc. will post 6.25 EPS for the current fiscal year.

In other news, CEO Craig T. Monaghan sold 16,096 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $61.08, for a total transaction of $983,143.68. Following the completion of the sale, the chief executive officer now owns 125,408 shares in the company, valued at approximately $7,659,920.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Juanita T. James sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $66.16, for a total transaction of $99,240.00. The disclosure for this sale can be found here. Insiders sold 265,884 shares of company stock valued at $16,426,020 in the last quarter. 11.90% of the stock is owned by insiders.

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About Asbury Automotive Group

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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