Eukles Asset Management Lowers Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Eukles Asset Management cut its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 9.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 546 shares of the company’s stock after selling 60 shares during the period. Eukles Asset Management’s holdings in Asbury Automotive Group were worth $124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Asbury Automotive Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,319,293 shares of the company’s stock worth $521,771,000 after acquiring an additional 10,656 shares during the period. Dimensional Fund Advisors LP raised its position in Asbury Automotive Group by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 894,595 shares of the company’s stock worth $201,261,000 after acquiring an additional 65,872 shares during the period. Eminence Capital LP raised its position in Asbury Automotive Group by 27.2% during the fourth quarter. Eminence Capital LP now owns 328,093 shares of the company’s stock worth $73,811,000 after acquiring an additional 70,089 shares during the period. Norges Bank acquired a new position in Asbury Automotive Group during the fourth quarter worth $67,417,000. Finally, Brave Warrior Advisors LLC raised its position in Asbury Automotive Group by 1.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 278,367 shares of the company’s stock worth $62,624,000 after acquiring an additional 3,101 shares during the period.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $245.64 on Monday. The firm has a 50-day simple moving average of $237.95 and a 200-day simple moving average of $228.18. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 8.95 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, Inc. has a 52 week low of $178.40 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. Asbury Automotive Group’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $8.95 earnings per share. On average, equities analysts predict that Asbury Automotive Group, Inc. will post 27.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. cut shares of Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price objective for the company. in a research report on Monday, June 10th. Finally, Morgan Stanley increased their target price on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th.

Insider Activity at Asbury Automotive Group

In related 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 value of $113,590.00. Following the completion of the sale, the chief executive officer now owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $113,590.00. Following the completion of the sale, the chief executive officer now owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the insider now directly owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.