River Road Asset Management LLC Boosts Stake in Asbury Automotive Group, Inc. $ABG

River Road Asset Management LLC raised its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,054 shares of the company’s stock after buying an additional 10,892 shares during the quarter. River Road Asset Management LLC owned about 1.09% of Asbury Automotive Group worth $49,076,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Asbury Automotive Group by 11.0% during the 1st quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock worth $1,383,000 after purchasing an additional 619 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after purchasing an additional 91,767 shares during the last quarter. United Services Automobile Association purchased a new position in Asbury Automotive Group in the 1st quarter valued at about $265,000. Empowered Funds LLC lifted its holdings in Asbury Automotive Group by 11.4% in the 1st quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock valued at $1,687,000 after purchasing an additional 783 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Asbury Automotive Group by 3.4% during the 1st 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 purchasing an additional 1,676 shares during the last quarter.

Insider Transactions at Asbury Automotive Group

In other news, Director B. Christopher Disantis purchased 157 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought 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 directly owned 6,400 shares of the company’s stock, valued at $1,166,784. The trade was a 2.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.75% of the company’s stock.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $196.55 on Friday. The company has a market cap of $3.66 billion, a P/E ratio of 6.96, a P/E/G ratio of 1.05 and a beta of 0.74. The firm’s 50 day moving average is $196.19 and its two-hundred day moving average is $214.87. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $274.50. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.82 earnings per share. Analysts expect that Asbury Automotive Group, Inc. will post 25.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABG shares. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a research note on Thursday, May 7th. Bank of America started coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a “buy” rating for the company. Morgan Stanley set a $220.00 price target on Asbury Automotive Group in a report on Thursday, May 7th. UBS Group began coverage on Asbury Automotive Group in a report on Wednesday, May 27th. They set a “neutral” rating and a $202.00 price objective on the stock. Finally, Stephens restated an “overweight” rating and set a $242.00 price objective on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $232.00.

Asbury Automotive Group Company 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.