Eminence Capital LP Has $237.70 Million Stock Position in Asbury Automotive Group, Inc. $ABG

Eminence Capital LP trimmed its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 972,405 shares of the company’s stock after selling 29,755 shares during the period. Asbury Automotive Group makes up approximately 2.9% of Eminence Capital LP’s investment portfolio, making the stock its 9th largest holding. Eminence Capital LP owned 0.05% of Asbury Automotive Group worth $237,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ABG. AQR Capital Management LLC raised its position in Asbury Automotive Group by 11.0% in the 1st quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after buying an additional 619 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Asbury Automotive Group by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock worth $61,561,000 after purchasing an additional 91,767 shares in the last quarter. United Services Automobile Association acquired a new position in Asbury Automotive Group during the first quarter worth $265,000. Empowered Funds LLC lifted its position in Asbury Automotive Group by 11.4% during the 1st quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock worth $1,687,000 after buying an additional 783 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Asbury Automotive Group by 3.4% in 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 valued at $11,316,000 after acquiring an additional 1,676 shares in the last quarter.

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis bought 500 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was bought 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 owned 5,400 shares of the company’s stock, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

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

Asbury Automotive Group Stock Down 0.2%

Asbury Automotive Group stock opened at $196.37 on Friday. The company’s 50-day moving average price is $229.34 and its two-hundred day moving average price is $235.91. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.78 billion, a P/E ratio of 7.83 and a beta of 0.81. Asbury Automotive Group, Inc. has a twelve month low of $194.80 and a twelve month high of $274.50.

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

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.