Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 716 shares of the company’s stock after selling 78 shares during the period. Nisa Investment Advisors LLC’s holdings in Asbury Automotive Group were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABG. Quarry LP purchased a new stake in Asbury Automotive Group during the 2nd quarter valued at approximately $38,000. GAMMA Investing LLC increased its holdings in shares of Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Asbury Automotive Group in the second quarter valued at approximately $155,000. Headlands Technologies LLC purchased a new stake in shares of Asbury Automotive Group during the second quarter worth approximately $190,000. Finally, Innealta Capital LLC acquired a new stake in shares of Asbury Automotive Group during the second quarter worth $194,000.

Asbury Automotive Group Stock Up 7.1 %

Shares of NYSE ABG opened at $259.20 on Thursday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 14.67 and a beta of 1.16. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13. The firm has a 50-day moving average price of $229.76 and a 200 day moving average price of $232.28. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (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 revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.12 earnings per share. Equities research analysts anticipate that Asbury Automotive Group, Inc. will post 25.59 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts have issued reports on ABG shares. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Craig Hallum boosted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America reduced their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Stephens started coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $256.20.

About Asbury Automotive Group

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.