Louisiana State Employees Retirement System Buys Shares of 8,600 Asbury Automotive Group, Inc. $ABG

Louisiana State Employees Retirement System purchased a new position in Asbury Automotive Group, Inc. (NYSE:ABG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,600 shares of the company’s stock, valued at approximately $1,681,000.

Other hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in Asbury Automotive Group during the 4th quarter worth about $25,000. Quarry LP grew 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 during the period. Torren Management LLC bought a new stake in Asbury Automotive Group in the fourth quarter worth approximately $27,000. Bogart Wealth LLC lifted its stake in Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after buying an additional 44 shares during the period. Finally, Salomon & Ludwin LLC lifted its stake in Asbury Automotive Group by 76.0% in the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock valued at $32,000 after buying an additional 57 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABG. Stephens reiterated an “overweight” rating and issued a $242.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Barclays boosted their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Citigroup cut their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a research report on Thursday, May 7th. Finally, UBS Group started coverage on shares of Asbury Automotive Group in a report on Wednesday, May 27th. They set a “neutral” rating and a $202.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $232.00.

Asbury Automotive Group Stock Down 1.4%

ABG opened at $198.19 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The firm has a market capitalization of $3.69 billion, a P/E ratio of 7.02, a PEG ratio of 1.11 and a beta of 0.74. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $274.50. The company’s 50-day moving average is $195.37 and its 200 day moving average is $212.53.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the firm earned $6.82 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. Research analysts expect that Asbury Automotive Group, Inc. will post 25.7 earnings per share for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other news, Director B. Christopher Disantis purchased 157 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $182.31 per share, with a total value of $28,622.67. Following the completion of the acquisition, the director owned 6,400 shares in the company, valued at $1,166,784. This represents a 2.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

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.