Insider Selling: Asbury Automotive Group (ABG) Director Sells 1,500 Shares of Stock

Asbury Automotive Group (NYSE:ABG) Director Thomas Reddin sold 1,500 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $69.00, for a total transaction of $103,500.00. Following the completion of the sale, the director now directly owns 4,415 shares in the company, valued at $304,635. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of NYSE ABG traded down $1.30 during mid-day trading on Friday, reaching $66.50. The company’s stock had a trading volume of 275,892 shares, compared to its average volume of 205,638. The company has a quick ratio of 0.45, a current ratio of 1.23 and a debt-to-equity ratio of 2.19. Asbury Automotive Group has a 1-year low of $49.10 and a 1-year high of $76.40. The stock has a market capitalization of $1,387.59, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55.

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Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.21. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 39.80%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. Asbury Automotive Group’s quarterly revenue was up .3% on a year-over-year basis. equities research analysts expect that Asbury Automotive Group will post 7.52 EPS for the current year.

A number of brokerages recently issued reports on ABG. Morgan Stanley increased their price target on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, March 14th. Zacks Investment Research cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Finally, Craig Hallum upped their price objective on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.40.

Hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its stake in Asbury Automotive Group by 8.5% during the third quarter. Macquarie Group Ltd. now owns 414,366 shares of the company’s stock worth $25,318,000 after buying an additional 32,339 shares during the period. BlackRock Inc. boosted its stake in Asbury Automotive Group by 0.8% during the fourth quarter. BlackRock Inc. now owns 2,517,622 shares of the company’s stock worth $161,128,000 after buying an additional 20,767 shares during the period. SG Americas Securities LLC boosted its stake in Asbury Automotive Group by 149.9% during the fourth quarter. SG Americas Securities LLC now owns 10,648 shares of the company’s stock worth $681,000 after buying an additional 6,387 shares during the period. Mangrove Partners purchased a new position in Asbury Automotive Group during the third quarter worth about $2,881,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Asbury Automotive Group by 8.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 211,375 shares of the company’s stock worth $13,528,000 after buying an additional 15,951 shares during the period.

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About Asbury Automotive Group

Asbury Automotive Group, Inc operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

Insider Buying and Selling by Quarter for Asbury Automotive Group (NYSE:ABG)

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