Tower Research Capital LLC TRC purchased a new stake in Asbury Automotive Group Inc. (NYSE:ABG) during the second quarter, Holdings Channel reports. The firm purchased 2,059 shares of the company’s stock, valued at approximately $109,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABG. Prudential Financial Inc. raised its position in Asbury Automotive Group by 6.8% in the second quarter. Prudential Financial Inc. now owns 159,379 shares of the company’s stock worth $8,406,000 after buying an additional 10,176 shares during the last quarter. Teacher Retirement System of Texas raised its position in Asbury Automotive Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,010 shares of the company’s stock worth $159,000 after buying an additional 364 shares during the last quarter. OLD National Bancorp IN bought a new position in Asbury Automotive Group during the second quarter worth about $424,000. LSV Asset Management raised its position in Asbury Automotive Group by 109.4% in the second quarter. LSV Asset Management now owns 64,300 shares of the company’s stock worth $3,391,000 after buying an additional 33,600 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Asbury Automotive Group during the second quarter worth about $105,000.
Shares of Asbury Automotive Group Inc. (NYSE:ABG) opened at 54.60 on Friday. Asbury Automotive Group Inc. has a 52-week low of $43.56 and a 52-week high of $87.63. The stock has a market capitalization of $1.21 billion, a P/E ratio of 8.32 and a beta of 1.20. The firm’s 50-day moving average price is $54.50 and its 200-day moving average price is $55.97.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 26th. The company reported $1.65 EPS for the quarter, hitting analysts’ consensus estimates of $1.65. Asbury Automotive Group had a return on equity of 51.29% and a net margin of 2.45%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $1.52 EPS. Asbury Automotive Group’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Asbury Automotive Group Inc. will post $6.11 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, September 27th. Wolfe Research assumed coverage on Asbury Automotive Group in a report on Tuesday, September 13th. They issued a “market perform” rating on the stock. Finally, TheStreet raised Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $70.75.
In other news, CEO Craig T. Monaghan sold 27,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total transaction of $1,563,840.00. Following the sale, the chief executive officer now directly owns 125,519 shares in the company, valued at approximately $7,270,060.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP George A. Villasana sold 10,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $60.36, for a total value of $603,600.00. Following the sale, the senior vice president now owns 22,238 shares in the company, valued at $1,342,285.68. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
About Asbury Automotive Group
Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.
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