Maryland State Retirement & Pension System Decreases Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Maryland State Retirement & Pension System reduced its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,415 shares of the company’s stock after selling 64 shares during the period. Maryland State Retirement & Pension System’s holdings in Asbury Automotive Group were worth $1,748,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norden Group LLC acquired a new stake in Asbury Automotive Group during the 1st quarter worth about $895,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Asbury Automotive Group by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,682 shares of the company’s stock worth $632,000 after purchasing an additional 227 shares during the period. AlphaMark Advisors LLC purchased a new stake in Asbury Automotive Group in the first quarter valued at approximately $319,000. BTC Capital Management Inc. acquired a new position in Asbury Automotive Group in the 1st quarter worth approximately $238,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Asbury Automotive Group during the 4th quarter worth approximately $162,000.

Asbury Automotive Group Stock Performance

NYSE:ABG traded down $2.25 during trading hours on Friday, reaching $223.36. The company had a trading volume of 31,973 shares, compared to its average volume of 169,856. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.38. Asbury Automotive Group, Inc. has a 1-year low of $178.40 and a 1-year high of $256.39. The business’s 50 day moving average price is $229.52 and its 200-day moving average price is $220.46. The firm has a market cap of $4.51 billion, a PE ratio of 8.22 and a beta of 1.17.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.76 by ($0.55). The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.26 billion. Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.37 earnings per share. Research analysts forecast that Asbury Automotive Group, Inc. will post 29.6 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded shares of Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price objective on the stock. in a report on Monday, June 10th.

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.