Eminence Capital LP Sells 46,013 Shares of Asbury Automotive Group, Inc. $ABG

Eminence Capital LP trimmed its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 926,392 shares of the company’s stock after selling 46,013 shares during the quarter. Asbury Automotive Group accounts for approximately 3.4% of Eminence Capital LP’s investment portfolio, making the stock its 11th biggest holding. Eminence Capital LP’s holdings in Asbury Automotive Group were worth $215,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABG. Norges Bank bought a new position in shares of Asbury Automotive Group during the 4th quarter worth approximately $77,963,000. Thrivent Financial for Lutherans lifted its holdings in shares of Asbury Automotive Group by 106.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock worth $68,842,000 after purchasing an additional 152,669 shares in the last quarter. Woodline Partners LP bought a new position in shares of Asbury Automotive Group in the 3rd quarter worth $32,684,000. American Century Companies Inc. lifted its holdings in shares of Asbury Automotive Group by 261.7% in the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock worth $61,561,000 after purchasing an additional 91,767 shares in the last quarter.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $190.35 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $196.16 and its two-hundred day simple moving average is $215.12. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $274.50. The stock has a market cap of $3.54 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 1.10 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the business posted $6.82 earnings per share. Asbury Automotive Group’s revenue was down .9% on a year-over-year basis. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 25.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director B. Christopher Disantis acquired 157 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the purchase, the director owned 6,400 shares in the company, valued at approximately $1,166,784. The trade was a 2.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABG. Bank of America began coverage on Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Barclays increased their target price on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Citigroup cut their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. UBS Group began coverage on Asbury Automotive Group in a report on Wednesday, May 27th. They issued a “neutral” rating and a $202.00 target price on the stock. Finally, Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a report on Thursday, May 7th. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $232.00.

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.