Guggenheim Capital LLC Purchases New Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Posted by on Mar 13th, 2023

Guggenheim Capital LLC purchased a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,517 shares of the company’s stock, valued at approximately $380,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Asbury Automotive Group by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 2,577,260 shares of the company’s stock valued at $412,878,000 after acquiring an additional 122,138 shares during the period. State Street Corp raised its holdings in Asbury Automotive Group by 2.0% in the first quarter. State Street Corp now owns 807,809 shares of the company’s stock worth $129,411,000 after buying an additional 16,163 shares during the last quarter. Capital Research Global Investors raised its holdings in Asbury Automotive Group by 35.4% in the first quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock worth $121,929,000 after buying an additional 198,985 shares during the last quarter. Simcoe Capital Management LLC raised its holdings in Asbury Automotive Group by 7.6% in the second quarter. Simcoe Capital Management LLC now owns 633,145 shares of the company’s stock worth $107,216,000 after buying an additional 44,516 shares during the last quarter. Finally, River Road Asset Management LLC raised its holdings in Asbury Automotive Group by 136.0% in the third quarter. River Road Asset Management LLC now owns 428,887 shares of the company’s stock worth $64,805,000 after buying an additional 247,119 shares during the last quarter.

Analyst Upgrades and Downgrades

ABG has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating for the company in a report on Tuesday, January 17th. Stephens boosted their price objective on shares of Asbury Automotive Group to $280.00 in a report on Tuesday, February 7th. Finally, StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Saturday, January 28th.

Insider Activity at Asbury Automotive Group

In related news, Director Berman Bridget Ryan sold 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $231.44, for a total transaction of $243,012.00. Following the completion of the sale, the director now directly owns 4,617 shares in the company, valued at $1,068,558.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Asbury Automotive Group news, CEO David W. Hult sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $232.76, for a total value of $5,819,000.00. Following the completion of the transaction, the chief executive officer now directly owns 31,264 shares in the company, valued at $7,277,008.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Berman Bridget Ryan sold 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $231.44, for a total transaction of $243,012.00. Following the completion of the transaction, the director now owns 4,617 shares of the company’s stock, valued at $1,068,558.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,928 shares of company stock worth $7,441,409. 0.72% of the stock is owned by company insiders.

Asbury Automotive Group Stock Down 4.0 %

ABG opened at $225.24 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.85 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average price of $214.59 and a 200-day moving average price of $183.42. Asbury Automotive Group, Inc. has a twelve month low of $138.88 and a twelve month high of $253.67. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 5.05, a PEG ratio of 0.40 and a beta of 1.14.

Asbury Automotive Group (NYSE:ABG – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $9.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.23 by $0.89. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.86 billion. Asbury Automotive Group had a net margin of 6.46% and a return on equity of 33.22%. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business posted $7.46 earnings per share. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 30.4 earnings per share for the current year.

Asbury Automotive Group Profile

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Asbury Automotive Group, Inc operates as a franchised automotive retailer. It operates through the Dealerships and Total Care Auto (TCA) segments. The Dealerships segment offers a range of automotive products and services fulfilling the entire vehicle ownership lifecycle including the sale of new and used vehicles and the provision of vehicle repair and maintenance services, replacement parts, and collision repair services.

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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