Asbury Automotive Group Inc (NYSE:ABG) Shares Bought by James Investment Research Inc.

James Investment Research Inc. boosted its stake in Asbury Automotive Group Inc (NYSE:ABG) by 51.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,910 shares of the company’s stock after buying an additional 11,455 shares during the period. James Investment Research Inc. owned about 0.16% of Asbury Automotive Group worth $1,917,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Asbury Automotive Group by 15,250.0% in the first quarter. Canada Pension Plan Investment Board now owns 92,100 shares of the company’s stock worth $5,535,000 after buying an additional 91,500 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Asbury Automotive Group by 488.2% in the first quarter. Russell Investments Group Ltd. now owns 10,000 shares of the company’s stock worth $601,000 after buying an additional 8,300 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Asbury Automotive Group during the first quarter worth approximately $356,000. River Road Asset Management LLC purchased a new position in shares of Asbury Automotive Group during the first quarter worth approximately $21,387,000. Finally, Macquarie Group Ltd. raised its stake in shares of Asbury Automotive Group by 12.1% in the fourth quarter. Macquarie Group Ltd. now owns 349,473 shares of the company’s stock worth $21,562,000 after buying an additional 37,823 shares during the period. 99.89% of the stock is owned by institutional investors.

Asbury Automotive Group Inc (ABG) traded up 0.58% during midday trading on Friday, reaching $52.25. 195,789 shares of the company’s stock were exchanged. Asbury Automotive Group Inc has a 1-year low of $47.50 and a 1-year high of $71.00. The stock has a market cap of $1.09 billion, a P/E ratio of 6.80 and a beta of 1.42. The firm’s 50-day moving average is $55.06 and its 200 day moving average is $59.32.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by $0.09. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. Asbury Automotive Group’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 EPS. Equities analysts anticipate that Asbury Automotive Group Inc will post $6.34 earnings per share for the current fiscal year.

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ABG has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Deutsche Bank AG restated a “hold” rating and issued a $60.00 target price (down previously from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. Jefferies Group LLC restated a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. TheStreet cut shares of Asbury Automotive Group from a “b-” rating to a “c+” rating in a research report on Thursday. Finally, BidaskClub cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $57.80.

In other news, COO David W. Hult sold 12,500 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total value of $716,750.00. Following the sale, the chief operating officer now directly owns 41,911 shares of the company’s stock, valued at $2,403,176.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Frederick Stax sold 495 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $54.25, for a total value of $26,853.75. Following the transaction, the insider now directly owns 4,586 shares in the company, valued at $248,790.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,738 shares of company stock worth $897,157. 11.90% of the stock is owned by insiders.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

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

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