Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 86.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,825 shares of the company’s stock after selling 11,167 shares during the period. Bridgewater Associates LP’s holdings in Asbury Automotive Group were worth $435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABG. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group in the 3rd quarter worth approximately $31,000. Quarry LP acquired a new stake in Asbury Automotive Group in the second quarter worth about $38,000. GAMMA Investing LLC grew its position in Asbury Automotive Group by 100.0% in the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after buying an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Asbury Automotive Group during the 2nd quarter valued at about $155,000. Finally, Headlands Technologies LLC bought a new stake in shares of Asbury Automotive Group during the 2nd quarter worth about $190,000.

Analyst Upgrades and Downgrades

ABG has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America decreased their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Stephens began 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 on the stock. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Seaport Res Ptn downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Asbury Automotive Group presently has an average rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock opened at $265.02 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The company has a market cap of $5.19 billion, a P/E ratio of 15.00 and a beta of 1.16. Asbury Automotive Group, Inc. has a fifty-two week low of $195.09 and a fifty-two week high of $277.13. The firm’s 50 day simple moving average is $241.65 and its 200-day simple moving average is $237.04.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm 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 for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $8.12 earnings per share. As a group, equities research analysts predict that Asbury Automotive Group, Inc. will post 25.17 EPS for the current 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.