Asbury Automotive Group, Inc. $ABG Stake Boosted by Seven Six Capital Management LLC

Seven Six Capital Management LLC grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,158 shares of the company’s stock after acquiring an additional 3,800 shares during the period. 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 owned about 0.14% of Asbury Automotive Group worth $5,112,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Asbury Automotive Group by 1,570.2% during the fourth quarter. SG Americas Securities LLC now owns 9,086 shares of the company’s stock worth $2,113,000 after purchasing an additional 8,542 shares in the last quarter. Comerica Bank increased its stake in Asbury Automotive Group by 103.1% in the 4th quarter. Comerica Bank now owns 18,880 shares of the company’s stock valued at $4,390,000 after buying an additional 9,586 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of 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 buying an additional 152,669 shares in the last quarter. M&T Bank Corp acquired a new position in Asbury Automotive Group during the fourth quarter worth $5,639,000. Finally, Fieldview Capital Management LLC purchased a new position in Asbury Automotive Group during the fourth quarter worth $3,336,000.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis purchased 157 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the completion of the purchase, the director owned 6,400 shares of the company’s stock, valued at approximately $1,166,784. The trade was a 2.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABG. Citigroup cut their price objective on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley set a $220.00 price target on shares of Asbury Automotive Group in a report on Thursday, May 7th. Stephens reiterated an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus price target of $244.14.

Asbury Automotive Group Trading Up 2.8%

ABG opened at $247.84 on Thursday. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $263.38. The firm has a 50 day simple moving average of $204.37 and a 200 day simple moving average of $209.48. 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 announced its 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 firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.74%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $7.43 EPS. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.4 earnings per share for the current year.

More Asbury Automotive Group News

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 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.