Insider Buying: Asbury Automotive Group (NYSE:ABG) Director Purchases $101,150.00 in Stock

Asbury Automotive Group, Inc. (NYSE:ABG) Director B. Christopher Disantis purchased 500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $202.30 per share, with a total value of $101,150.00. Following the acquisition, the director owned 5,400 shares in the company, valued at $1,092,420. This trade represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Asbury Automotive Group Stock Down 0.2%

Shares of NYSE:ABG opened at $196.37 on Friday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.83 and a beta of 0.81. The company has a 50 day moving average of $229.34 and a two-hundred day moving average of $236.04. Asbury Automotive Group, Inc. has a 52-week low of $194.80 and a 52-week high of $274.50. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). The firm had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $7.26 earnings per share. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ABG shares. Bank of America began coverage on shares of Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a “buy” rating for the company. Morgan Stanley set a $230.00 target price on Asbury Automotive Group in a research report on Monday, December 8th. Barclays cut their price target on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research note on Friday, February 6th. Finally, Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $247.57.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new position in Asbury Automotive Group during the 4th quarter worth $25,000. Torren Management LLC acquired a new stake in shares of Asbury Automotive Group in the 4th quarter valued at about $27,000. Quarry LP raised its stake in shares of Asbury Automotive Group by 319.2% in the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 83 shares in the last quarter. Bogart Wealth LLC lifted 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 purchasing an additional 44 shares during the last quarter. Finally, Osaic Holdings Inc. lifted 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 purchasing an additional 54 shares during the last quarter.

Asbury Automotive Group Company 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.