Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Shell Asset Management Co.

Posted by Defense World Staff on May 5th, 2023

Shell Asset Management Co. lowered its holdings in Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,261 shares of the company’s stock after selling 729 shares during the quarter. Shell Asset Management Co.’s holdings in Asbury Automotive Group were worth $585,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ABG. Xponance Inc. acquired a new stake in Asbury Automotive Group in the fourth quarter valued at $246,000. US Bancorp DE lifted its holdings in shares of Asbury Automotive Group by 0.3% in the third quarter. US Bancorp DE now owns 23,350 shares of the company’s stock valued at $3,529,000 after purchasing an additional 65 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Asbury Automotive Group in the third quarter valued at approximately $1,925,000. Magnolia Group LLC increased its stake in shares of Asbury Automotive Group by 31.8% during the 4th quarter. Magnolia Group LLC now owns 232,467 shares of the company’s stock worth $41,670,000 after purchasing an additional 56,047 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Asbury Automotive Group by 7.1% during the 4th quarter. New York State Common Retirement Fund now owns 99,561 shares of the company’s stock worth $17,846,000 after purchasing an additional 6,600 shares during the last quarter.

Insider Transactions at Asbury Automotive Group

In other news, SVP George A. Villasana sold 2,828 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $235.60, for a total transaction of $666,276.80. Following the transaction, the senior vice president now directly owns 4,290 shares of the company’s stock, valued at $1,010,724. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Asbury Automotive Group news, CEO David W. Hult sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 31,264 shares of the company’s stock, valued at $7,277,008.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George A. Villasana sold 2,828 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $235.60, for a total value of $666,276.80. Following the completion of the sale, 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. Over the last three months, insiders have sold 31,928 shares of company stock valued at $7,441,409. Corporate insiders own 0.41% of the company’s stock.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $189.41 on Friday. Asbury Automotive Group, Inc. has a 52-week low of $138.88 and a 52-week high of $253.67. The firm has a fifty day moving average of $207.01 and a 200-day moving average of $193.45. The firm has a market capitalization of $4.08 billion, a P/E ratio of 4.44, a PEG ratio of 0.34 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 1.85 and a debt-to-equity ratio of 1.11.

Asbury Automotive Group (NYSE:ABG – Get Rating) last posted its earnings results on Tuesday, April 25th. The company reported $8.37 EPS for the quarter, topping analysts’ consensus estimates of $7.94 by $0.43. Asbury Automotive Group had a net margin of 6.23% and a return on equity of 30.58%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company posted $9.27 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts predict that Asbury Automotive Group, Inc. will post 30.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Morgan Stanley decreased their price target on shares of Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating on the stock in a report on Tuesday, January 17th. Finally, Stephens increased their price objective on shares of Asbury Automotive Group to $275.00 in a research report on Thursday, April 27th.

Asbury Automotive Group 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.