New York State Common Retirement Fund Boosts Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Posted by on Apr 18th, 2023

New York State Common Retirement Fund boosted its stake in Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,561 shares of the company’s stock after buying an additional 6,600 shares during the quarter. New York State Common Retirement Fund owned approximately 0.45% of Asbury Automotive Group worth $17,846,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ronald Blue Trust Inc. lifted its stake in Asbury Automotive Group by 305.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 243 shares of the company’s stock valued at $41,000 after buying an additional 183 shares in the last quarter. Standard Family Office LLC purchased a new stake in Asbury Automotive Group in the 3rd quarter valued at approximately $52,000. Quadrant Capital Group LLC lifted its stake in Asbury Automotive Group by 236.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 411 shares of the company’s stock valued at $62,000 after buying an additional 289 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Asbury Automotive Group by 6.9% in the 1st quarter. Mackenzie Financial Corp now owns 1,321 shares of the company’s stock valued at $212,000 after buying an additional 85 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new stake in Asbury Automotive Group in the 3rd quarter valued at approximately $200,000.

Asbury Automotive Group Trading Down 1.7 %

Shares of ABG opened at $204.63 on Tuesday. The stock has a fifty day moving average of $216.27 and a two-hundred day moving average of $190.18. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.92 and a current ratio of 1.85. The company has a market capitalization of $4.44 billion, a PE ratio of 4.59, a price-to-earnings-growth ratio of 0.37 and a beta of 1.13. Asbury Automotive Group, Inc. has a fifty-two week low of $138.88 and a fifty-two week high of $253.67.

Asbury Automotive Group (NYSE:ABG – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $9.12 earnings per share for the quarter, topping the consensus estimate of $8.23 by $0.89. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.86 billion. Asbury Automotive Group had a return on equity of 33.22% and a net margin of 6.46%. The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the company posted $7.46 EPS. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 30.49 EPS for the current year.

Insider Buying and Selling

In related news, Director Berman Bridget Ryan sold 1,050 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $231.44, for a total value of $243,012.00. Following the transaction, the director now directly owns 4,617 shares of the company’s stock, valued at approximately $1,068,558.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Berman Bridget Ryan sold 1,050 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $231.44, for a total value of $243,012.00. Following the transaction, the director now directly owns 4,617 shares of the company’s stock, valued at approximately $1,068,558.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP George A. Villasana sold 2,828 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $235.60, for a total value of $666,276.80. Following the completion of the transaction, the senior vice president now directly owns 4,290 shares in the company, valued at $1,010,724. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,928 shares of company stock valued at $7,441,409. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABG has been the topic of a number of recent research reports. StockNews.com started coverage on Asbury Automotive Group in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Morgan Stanley cut their price target on Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating for the company in a report on Tuesday, January 17th. Finally, Stephens boosted their price target on Asbury Automotive Group to $280.00 in a report on Tuesday, February 7th.

Asbury Automotive Group Company Profile

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Asbury Automotive Group, Inc is 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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