Deutsche Bank AG Makes New $4.34 Million Investment in Asbury Automotive Group, Inc. $ABG

Deutsche Bank AG purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 21,603 shares of the company’s stock, valued at approximately $4,344,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in Asbury Automotive Group during the 4th quarter worth approximately $25,000. Quarry LP grew its stake in shares of Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 83 shares in the last quarter. Torren Management LLC acquired a new position in shares of Asbury Automotive Group in the fourth quarter worth $27,000. Bogart Wealth LLC increased its position in shares of Asbury Automotive Group by 52.4% during the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after acquiring an additional 44 shares during the period. Finally, Osaic Holdings Inc. increased its position in shares of Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after acquiring an additional 54 shares during the period.

Asbury Automotive Group Trading Up 2.2%

NYSE:ABG opened at $215.40 on Wednesday. The stock has a 50-day simple moving average of $213.03 and a 200-day simple moving average of $205.75. The stock has a market cap of $3.87 billion, a P/E ratio of 8.06, a P/E/G ratio of 0.81 and a beta of 0.71. Asbury Automotive Group, Inc. has a 1 year low of $172.01 and a 1 year high of $263.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, beating analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the business posted $7.43 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts anticipate that Asbury Automotive Group, Inc. will post 26.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Asbury Automotive Group from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Barclays upped their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. UBS Group set a $250.00 price objective on Asbury Automotive Group in a research note on Wednesday, July 29th. Finally, Citigroup upped their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $246.71.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 948 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the transaction, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by company insiders.

Asbury Automotive Group 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.