Asbury Automotive Group, Inc. $ABG Shares Sold by Voss Capital LP

Voss Capital LP cut its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 29.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 90,000 shares of the company’s stock after selling 37,283 shares during the period. Asbury Automotive Group accounts for 1.1% of Voss Capital LP’s investment portfolio, making the stock its 25th biggest position. Voss Capital LP’s holdings in Asbury Automotive Group were worth $22,000,000 at the end of the most recent quarter.

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

Asbury Automotive Group Trading Down 0.7%

Shares of ABG stock opened at $189.62 on Wednesday. Asbury Automotive Group, Inc. has a 1 year low of $188.97 and a 1 year high of $274.50. The firm has a market capitalization of $3.65 billion, a PE ratio of 7.56 and a beta of 0.81. The stock has a fifty day moving average of $227.30 and a two-hundred day moving average of $234.86. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.35 and a current ratio of 0.95.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). The business had revenue of $4.68 billion for 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 last year, the business posted $7.26 earnings per share. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Bank of America started coverage on Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a “buy” rating for the company. Morgan Stanley set a $230.00 price target on Asbury Automotive Group in a research report on Monday, December 8th. Finally, Barclays cut their price target on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a report on Friday, February 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $247.57.

Insider Buying and Selling

In related news, Director B. Christopher Disantis bought 500 shares of the stock in a transaction 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 purchase, the director owned 5,400 shares in the company, valued at approximately $1,092,420. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

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.