Tower Research Capital LLC TRC Sells 85 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Tower Research Capital LLC TRC cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 27.1% during the fourth quarter, Holdings Channel reports. The fund owned 229 shares of the company’s stock after selling 85 shares during the period. Tower Research Capital LLC TRC’s holdings in Asbury Automotive Group were worth $56,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ABG. Madison Investment Advisors LLC bought a new stake in Asbury Automotive Group during the 4th quarter worth approximately $82,426,000. Norges Bank bought a new position in Asbury Automotive Group in the 4th quarter valued at $82,079,000. Artisan Partners Limited Partnership bought a new position in Asbury Automotive Group in the 4th quarter valued at $51,118,000. JPMorgan Chase & Co. boosted its position in Asbury Automotive Group by 18.9% in the 4th quarter. JPMorgan Chase & Co. now owns 186,306 shares of the company’s stock valued at $45,278,000 after buying an additional 29,579 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Asbury Automotive Group in the 4th quarter valued at $5,316,000.

Insider Buying and Selling at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This trade represents a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABG shares. Citigroup started coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price objective on the stock. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Finally, Stephens raised their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $258.50.

Asbury Automotive Group Stock Performance

ABG opened at $224.99 on Monday. The business’s 50-day moving average price is $227.50 and its two-hundred day moving average price is $249.06. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 10.46 and a beta of 0.98. 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 (NYSE:ABG) last released its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business earned $7.21 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal 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.