MQS Management LLC Decreases Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

MQS Management LLC trimmed its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 17.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,313 shares of the company’s stock after selling 274 shares during the quarter. MQS Management LLC’s holdings in Asbury Automotive Group were worth $310,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ABG. Blue Trust Inc. increased its stake in Asbury Automotive Group by 31.2% in the 4th quarter. Blue Trust Inc. now owns 244 shares of the company’s stock valued at $56,000 after buying an additional 58 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Asbury Automotive Group in the 4th quarter valued at about $12,855,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Asbury Automotive Group by 31.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,589 shares of the company’s stock valued at $3,957,000 after purchasing an additional 4,198 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Asbury Automotive Group in the 4th quarter valued at about $297,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Asbury Automotive Group in the 4th quarter valued at about $2,317,000.

Asbury Automotive Group Price Performance

NYSE:ABG traded up $2.50 during mid-day trading on Friday, hitting $251.95. 17,150 shares of the company’s stock traded hands, compared to its average volume of 170,966. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.38 and a current ratio of 1.06. The firm’s 50 day simple moving average is $235.20 and its 200 day simple moving average is $222.60. Asbury Automotive Group, Inc. has a 1 year low of $178.40 and a 1 year high of $259.67. The company has a market cap of $5.08 billion, a PE ratio of 9.09 and a beta of 1.17.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, April 25th. The company reported $7.21 earnings per share for the quarter, missing the consensus estimate of $7.76 by ($0.55). Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter last year, the business posted $8.37 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. Sell-side analysts expect that Asbury Automotive Group, Inc. will post 29.12 EPS for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded shares of Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price target for the company. in a report on Monday, June 10th.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, 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 services, replacement parts, and collision repair services.