Asbury Automotive Group, Inc. (NYSE:ABG) Short Interest Up 18.5% in March

Asbury Automotive Group, Inc. (NYSE:ABG) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,172,995 shares, an increase of 18.5% from the February 26th total of 990,235 shares. Based on an average daily volume of 243,456 shares, the days-to-cover ratio is currently 4.8 days. Currently, 6.1% of the company’s shares are short sold.

Insider Activity at Asbury Automotive Group

In related news, Director B. Christopher Disantis purchased 500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average cost of $202.30 per share, with a total value of $101,150.00. Following the completion of the purchase, the director owned 5,400 shares in the company, valued at approximately $1,092,420. This trade represents a 10.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at about $25,000. Torren Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $27,000. Quarry LP boosted its stake in Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 83 shares in the last quarter. Bogart Wealth LLC grew its holdings in Asbury Automotive Group by 52.4% in 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. 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 purchasing an additional 54 shares in the last quarter.

Asbury Automotive Group Trading Up 0.9%

Shares of NYSE ABG traded up $1.76 during midday trading on Tuesday, hitting $195.21. 171,925 shares of the company traded hands, compared to its average volume of 254,168. Asbury Automotive Group has a 12-month low of $184.61 and a 12-month high of $274.50. The firm has a market cap of $3.77 billion, a P/E ratio of 7.78 and a beta of 0.81. The stock has a 50-day moving average price of $216.20 and a 200 day moving average price of $230.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.35 and a current ratio of 0.95.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Thursday, February 5th. The company reported $6.67 earnings per share 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 the consensus estimate of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.26 earnings per share. As a group, analysts expect that Asbury Automotive Group will post 26.28 earnings per share for the current year.

Analyst Ratings Changes

ABG has been the subject of a number of research analyst reports. Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a report on Monday, December 8th. JPMorgan Chase & Co. raised their price target on shares of Asbury Automotive Group from $235.00 to $240.00 and gave the company an “underweight” rating in a report on Friday, March 20th. Bank of America assumed coverage on shares of Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Barclays decreased their target price 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. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $248.29.

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.