Tudor Investment Corp ET AL Boosts Stake in Asbury Automotive Group, Inc. $ABG

Tudor Investment Corp ET AL boosted its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 52.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 53,973 shares of the company’s stock after purchasing an additional 18,507 shares during the period. Tudor Investment Corp ET AL’s holdings in Asbury Automotive Group were worth $13,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its stake in Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 83 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after buying an additional 54 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Asbury Automotive Group by 64.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock valued at $49,000 after buying an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Asbury Automotive Group by 104.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company’s stock valued at $80,000 after buying an additional 172 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Asbury Automotive Group by 466.7% during the 3rd quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $107,000 after acquiring an additional 364 shares in the last quarter.

Asbury Automotive Group Trading Down 2.1%

ABG opened at $185.06 on Friday. The business has a fifty day moving average price of $223.63 and a 200 day moving average price of $233.63. 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, Inc. has a 12 month low of $184.61 and a 12 month high of $274.50. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 7.38 and a beta of 0.81.

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

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis bought 500 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $202.30 per share, with a total value of $101,150.00. Following the completion of the acquisition, the director directly owned 5,400 shares in the company, valued at $1,092,420. The trade was a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ABG. JPMorgan Chase & Co. raised their target price on Asbury Automotive Group from $235.00 to $240.00 and gave the company an “underweight” rating in a report on Friday. Bank of America assumed coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They set a “buy” rating on the stock. Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a research report on Monday, December 8th. Weiss Ratings cut shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Finally, Barclays cut their target price on shares of Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $248.29.

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.