Robotti Robert Makes New $17.54 Million Investment in Asbury Automotive Group, Inc. $ABG

Robotti Robert purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 87,215 shares of the company’s stock, valued at approximately $17,537,000. Asbury Automotive Group comprises 2.8% of Robotti Robert’s investment portfolio, making the stock its 7th biggest position.

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

Insider Buying and Selling at Asbury Automotive Group

In other news, SVP Jed Milstein sold 948 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. This trade represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Asbury Automotive Group Trading Down 2.2%

NYSE ABG opened at $203.94 on Wednesday. The stock has a market cap of $3.66 billion, a P/E ratio of 7.63, a PEG ratio of 0.81 and a beta of 0.71. The company’s fifty day simple moving average is $211.54 and its 200-day simple moving average is $206.49. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.77. Asbury Automotive Group, Inc. has a 52 week low of $172.01 and a 52 week high of $263.38.

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

Analysts Set New Price Targets

A number of research firms have recently commented on ABG. Stephens restated an “overweight” rating and issued a $242.00 price objective on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Morgan Stanley boosted their target price on Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Barclays boosted their target price 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. UBS Group set a $250.00 price target on shares of Asbury Automotive Group in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 4th. Two equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $246.71.

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.