GAMMA Investing LLC Has $94,000 Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 34.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 393 shares of the company’s stock after purchasing an additional 101 shares during the quarter. GAMMA Investing LLC’s holdings in Asbury Automotive Group were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ABG. Quarry LP acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $38,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $155,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at approximately $162,000. Headlands Technologies LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $190,000. Finally, Innealta Capital LLC acquired a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $194,000.

Asbury Automotive Group Price Performance

ABG stock opened at $225.65 on Tuesday. The company’s fifty day simple moving average is $230.07 and its 200 day simple moving average is $231.20. Asbury Automotive Group, Inc. has a 12-month low of $178.40 and a 12-month high of $277.13. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 8.22 and a beta of 1.16. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company posted $8.95 EPS. Asbury Automotive Group’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts expect that Asbury Automotive Group, Inc. will post 26.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABG has been the subject of a number of analyst reports. Stephens started coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target for the company. Bank of America decreased their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. boosted their target price on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, StockNews.com cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $251.20.

Insider Activity

In other news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Asbury Automotive Group 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.