Asbury Automotive Group, Inc. (NYSE:ABG) Short Interest Update

Asbury Automotive Group, Inc. (NYSE:ABG) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,760,000 shares, a drop of 12.9% from the January 15th total of 2,020,000 shares. Based on an average trading volume of 184,400 shares, the days-to-cover ratio is currently 9.5 days. Approximately 9.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in ABG. Aster Capital Management DIFC Ltd acquired a new position in shares of Asbury Automotive Group in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. acquired a new stake in Asbury Automotive Group during the 3rd quarter worth approximately $31,000. CIBC Private Wealth Group LLC lifted its holdings in Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after buying an additional 41 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after buying an additional 351 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after buying an additional 443 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABG. Craig Hallum raised Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Stephens raised their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $264.00.

Asbury Automotive Group Trading Up 1.1 %

Shares of ABG stock traded up $3.29 during trading hours on Friday, hitting $303.01. The company had a trading volume of 123,744 shares, compared to its average volume of 229,757. The company’s fifty day moving average is $261.34 and its 200 day moving average is $246.30. 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 has a fifty-two week low of $202.98 and a fifty-two week high of $312.56. The stock has a market capitalization of $5.94 billion, a PE ratio of 14.09 and a beta of 1.20.

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.