Channing Capital Management LLC Sells 6,025 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Channing Capital Management LLC lowered its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 269,535 shares of the company’s stock after selling 6,025 shares during the quarter. Channing Capital Management LLC’s holdings in Asbury Automotive Group were worth $65,505,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ABG. Natixis Advisors LLC purchased a new stake in shares of Asbury Automotive Group during the third quarter valued at $26,573,000. Rockefeller Capital Management L.P. bought a new stake in Asbury Automotive Group during the 3rd quarter valued at about $14,219,000. Proficio Capital Partners LLC purchased a new stake in Asbury Automotive Group in the 4th quarter valued at about $5,316,000. Stifel Financial Corp grew its stake in Asbury Automotive Group by 1,990.9% in the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after acquiring an additional 18,973 shares in the last quarter. Finally, Barclays PLC grew its stake in Asbury Automotive Group by 94.9% in the 3rd quarter. Barclays PLC now owns 38,644 shares of the company’s stock worth $9,220,000 after acquiring an additional 18,821 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on ABG. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Stephens increased their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and one has given 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 $264.00.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Trading Down 2.6 %

Shares of NYSE ABG opened at $248.13 on Tuesday. Asbury Automotive Group, Inc. has a 1-year low of $202.98 and a 1-year high of $312.56. The business has a fifty day moving average price of $268.46 and a 200 day moving average price of $250.65. The stock has a market capitalization of $4.87 billion, a P/E ratio of 11.54 and a beta of 1.22. 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 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.