Asbury Automotive Group, Inc. $ABG Stake Reduced by LRT Capital Management LLC

LRT Capital Management LLC lowered its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 28.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,613 shares of the company’s stock after selling 5,511 shares during the quarter. Asbury Automotive Group accounts for 2.7% of LRT Capital Management LLC’s holdings, making the stock its 6th largest holding. LRT Capital Management LLC’s holdings in Asbury Automotive Group were worth $3,165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Eventide Asset Management LLC purchased a new stake in Asbury Automotive Group in the fourth quarter valued at $433,000. Barclays PLC raised its position in Asbury Automotive Group by 54.1% in the fourth quarter. Barclays PLC now owns 44,378 shares of the company’s stock valued at $10,319,000 after purchasing an additional 15,589 shares during the period. Smartleaf Asset Management LLC raised its position in Asbury Automotive Group by 27.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 599 shares of the company’s stock valued at $142,000 after purchasing an additional 129 shares during the period. Rafferty Asset Management LLC raised its position in Asbury Automotive Group by 7.6% in the fourth quarter. Rafferty Asset Management LLC now owns 1,494 shares of the company’s stock valued at $347,000 after purchasing an additional 106 shares during the period. Finally, First Trust Advisors LP raised its position in Asbury Automotive Group by 28.6% in the fourth quarter. First Trust Advisors LP now owns 26,581 shares of the company’s stock valued at $6,181,000 after purchasing an additional 5,919 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABG. Barclays lifted their target price on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Citigroup reduced their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. UBS Group began coverage on Asbury Automotive Group in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $202.00 target price on the stock. Finally, Weiss Ratings downgraded Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $232.00.

Insiders Place Their Bets

In related news, Director B. Christopher Disantis purchased 157 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $182.31 per share, for a total transaction of $28,622.67. Following the acquisition, the director directly owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by company insiders.

Asbury Automotive Group Price Performance

ABG stock opened at $199.29 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.71 billion, a PE ratio of 7.05, a P/E/G ratio of 1.10 and a beta of 0.74. Asbury Automotive Group, Inc. has a 12-month low of $172.01 and a 12-month high of $274.50. The business’s fifty day moving average price is $196.08 and its 200 day moving average price is $215.98.

Asbury Automotive Group (NYSE:ABG) last posted 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). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the firm posted $6.82 EPS. Asbury Automotive Group’s quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 25.68 EPS for the current year.

About Asbury Automotive Group

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.