Skandinaviska Enskilda Banken AB publ cut its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 95.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,100 shares of the company’s stock after selling 44,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Asbury Automotive Group were worth $376,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ABG. Standard Family Office LLC bought a new position in Asbury Automotive Group in the third quarter valued at approximately $52,000. Quadrant Capital Group LLC grew its stake in Asbury Automotive Group by 236.9% in the third quarter. Quadrant Capital Group LLC now owns 411 shares of the company’s stock valued at $62,000 after purchasing an additional 289 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in Asbury Automotive Group by 83.1% in the fourth quarter. Ronald Blue Trust Inc. now owns 445 shares of the company’s stock valued at $67,000 after purchasing an additional 202 shares in the last quarter. Pathstone Family Office LLC bought a new position in Asbury Automotive Group in the third quarter valued at approximately $200,000. Finally, Inspire Investing LLC grew its stake in Asbury Automotive Group by 9.8% in the third quarter. Inspire Investing LLC now owns 1,383 shares of the company’s stock valued at $209,000 after purchasing an additional 123 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ABG shares. Stephens raised their price target on Asbury Automotive Group to $275.00 in a research note on Thursday, April 27th. StockNews.com cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Morgan Stanley cut their price objective on Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating for the company in a research report on Tuesday, January 17th.
Asbury Automotive Group Stock Performance
Asbury Automotive Group (NYSE:ABG – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The company reported $8.37 earnings per share for the quarter, topping the consensus estimate of $7.94 by $0.43. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Asbury Automotive Group had a return on equity of 29.48% and a net margin of 6.23%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted $9.27 EPS. Research analysts anticipate that Asbury Automotive Group, Inc. will post 31.07 earnings per share for the current year.
Insider Buying and Selling
In other Asbury Automotive Group news, SVP George A. Villasana sold 2,828 shares of Asbury Automotive Group 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 transaction, the senior vice president now directly owns 4,290 shares of the company’s stock, valued at approximately $1,010,724. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by insiders.
About Asbury Automotive Group
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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