1,646 Shares in Asbury Automotive Group, Inc. (NYSE:ABG) Bought by Paloma Partners Management Co

Paloma Partners Management Co bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,646 shares of the company’s stock, valued at approximately $393,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in shares of Asbury Automotive Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after acquiring an additional 51 shares in the last quarter. Oak Associates Ltd. OH raised its stake in Asbury Automotive Group by 1.4% during the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after acquiring an additional 51 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Asbury Automotive Group by 3.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock worth $440,000 after buying an additional 57 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Asbury Automotive Group by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after buying an additional 66 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Asbury Automotive Group by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,804 shares of the company’s stock worth $2,690,000 after buying an additional 99 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ABG shares. JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Craig Hallum upped their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Stock Performance

ABG opened at $265.37 on Thursday. The stock’s 50 day simple moving average is $243.03 and its 200 day simple moving average is $237.41. The stock has a market cap of $5.20 billion, a P/E ratio of 15.02 and a beta of 1.18. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company posted $8.12 EPS. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 EPS for the current fiscal year.

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.