Asbury Automotive Group, Inc. (NYSE:ABG) Short Interest Update

Asbury Automotive Group, Inc. (NYSE:ABG) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 1,860,000 shares, a decrease of 5.6% from the June 30th total of 1,970,000 shares. Based on an average daily trading volume, of 179,900 shares, the days-to-cover ratio is presently 10.3 days.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $67,417,000. Eminence Capital LP grew its holdings in Asbury Automotive Group by 27.2% in the fourth quarter. Eminence Capital LP now owns 328,093 shares of the company’s stock worth $73,811,000 after purchasing an additional 70,089 shares during the period. Dimensional Fund Advisors LP increased its stake in Asbury Automotive Group by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 894,595 shares of the company’s stock valued at $201,261,000 after purchasing an additional 65,872 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at about $12,855,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Asbury Automotive Group during the 1st quarter worth about $9,823,000.

Asbury Automotive Group Stock Performance

ABG stock opened at $257.42 on Wednesday. Asbury Automotive Group has a 1-year low of $178.40 and a 1-year high of $259.67. The company has a current ratio of 1.06, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $235.90 and a 200-day moving average price of $223.62. The firm has a market cap of $5.19 billion, a PE ratio of 9.38 and a beta of 1.17.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price objective 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.