Fmr LLC held its position in Asbury Automotive Group Inc (NYSE:ABG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 763,208 shares of the company’s stock at the end of the 2nd quarter. Fmr LLC owned 3.66% of Asbury Automotive Group worth $43,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Asbury Automotive Group during the first quarter worth about $104,000. Victory Capital Management Inc. raised its position in shares of Asbury Automotive Group by 45.6% during the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock worth $113,000 after purchasing an additional 587 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Asbury Automotive Group by 4.1% during the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after purchasing an additional 132 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Asbury Automotive Group during the first quarter worth about $210,000. Finally, State of Alaska Department of Revenue raised its position in shares of Asbury Automotive Group by 78.6% during the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock worth $210,000 after purchasing an additional 1,634 shares during the period.

Shares of Asbury Automotive Group Inc (NYSE ABG) opened at 57.05 on Wednesday. Asbury Automotive Group Inc has a 12 month low of $47.50 and a 12 month high of $71.00. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 7.42 and a beta of 1.45. The company has a 50-day moving average price of $58.11 and a 200-day moving average price of $56.72.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Analysts forecast that Asbury Automotive Group Inc will post $6.30 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the company. TheStreet raised Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Zacks Investment Research lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 target price on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Deutsche Bank AG reissued a “hold” rating and issued a $58.00 target price (down previously from $60.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Finally, BidaskClub lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.75.

In related news, insider William Frederick Stax sold 495 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $54.25, for a total transaction of $26,853.75. Following the transaction, the insider now directly owns 4,586 shares of the company’s stock, valued at approximately $248,790.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dennis E. Clements sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $58.66, for a total value of $293,300.00. Following the transaction, the director now directly owns 20,531 shares in the company, valued at $1,204,348.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,444 shares of company stock worth $5,700,889. 11.90% of the stock is owned by company 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.

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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