Bank of America Corp DE Boosts Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Bank of America Corp DE grew its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,799 shares of the company’s stock after buying an additional 4,941 shares during the period. Bank of America Corp DE’s holdings in Asbury Automotive Group were worth $28,629,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of 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 during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Asbury Automotive Group in the 4th quarter worth approximately $484,000. Nisa Investment Advisors LLC lifted its holdings in shares of Asbury Automotive Group by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after acquiring an additional 123 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Asbury Automotive Group by 5.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,548 shares of the company’s stock worth $862,000 after acquiring an additional 179 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Asbury Automotive Group in the 4th quarter worth approximately $221,000.

Asbury Automotive Group Price Performance

Shares of ABG opened at $235.12 on Friday. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The firm’s fifty day simple moving average is $225.75 and its 200-day simple moving average is $249.19. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 10.93 and a beta of 0.98. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. Asbury Automotive Group’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.21 earnings per share. Equities analysts forecast that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, May 12th. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. 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. Citigroup started coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price on the stock. Finally, Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $258.50.

Insider Activity at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

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.