California Public Employees Retirement System Acquires 600 Shares of Asbury Automotive Group Inc (ABG)

California Public Employees Retirement System raised its holdings in Asbury Automotive Group Inc (NYSE:ABG) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,800 shares of the company’s stock after purchasing an additional 600 shares during the quarter. California Public Employees Retirement System owned 0.39% of Asbury Automotive Group worth $4,626,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Alps Advisors Inc. raised its position in shares of Asbury Automotive Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,655 shares of the company’s stock worth $433,000 after acquiring an additional 20 shares during the period. Aperio Group LLC raised its position in shares of Asbury Automotive Group by 0.7% in the second quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock worth $402,000 after acquiring an additional 51 shares during the period. Mason Street Advisors LLC raised its position in shares of Asbury Automotive Group by 2.1% in the first quarter. Mason Street Advisors LLC now owns 4,401 shares of the company’s stock worth $265,000 after acquiring an additional 92 shares during the period. Texas Permanent School Fund raised its position in shares of Asbury Automotive Group by 0.8% in the second quarter. Texas Permanent School Fund now owns 13,741 shares of the company’s stock worth $777,000 after acquiring an additional 115 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after acquiring an additional 132 shares during the period.

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A number of research analysts have weighed in on ABG shares. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet downgraded shares of Asbury Automotive Group from a “b-” rating to a “c+” rating in a research report on Thursday, August 10th. BidaskClub downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Craig Hallum reiterated a “hold” rating and issued a $55.00 price objective (down previously from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 price objective on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.75.

Asbury Automotive Group Inc (NYSE ABG) opened at 55.85 on Friday. Asbury Automotive Group Inc has a 12 month low of $47.50 and a 12 month high of $71.00. The firm has a 50 day moving average of $58.57 and a 200-day moving average of $56.65. The firm has a market cap of $1.16 billion, a P/E ratio of 7.27 and a beta of 1.45.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.09). The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. On average, equities research analysts forecast that Asbury Automotive Group Inc will post $6.29 earnings per share for the current year.

In related news, Director Dennis E. Clements sold 5,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $58.66, for a total transaction of $293,300.00. Following the sale, the director now owns 20,531 shares of the company’s stock, valued at $1,204,348.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Msd Capital L. P sold 104,949 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $51.27, for a total transaction of $5,380,735.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,444 shares of company stock worth $5,700,889. 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.

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

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