Asbury Automotive Group Inc (ABG) CEO Craig T. Monaghan Sells 16,096 Shares

Asbury Automotive Group Inc (NYSE:ABG) CEO Craig T. Monaghan sold 16,096 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $61.08, for a total value of $983,143.68. Following the transaction, the chief executive officer now owns 125,408 shares in the company, valued at approximately $7,659,920.64. The sale was disclosed in a document filed with the SEC, which is available through this link.

Asbury Automotive Group Inc (NYSE ABG) opened at 61.40 on Wednesday. Asbury Automotive Group Inc has a 12 month low of $47.50 and a 12 month high of $71.00. The stock’s 50 day moving average price is $59.33 and its 200-day moving average price is $56.71. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 7.99 and a beta of 1.45.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 24th. The company reported $1.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.09). Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $1.52 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts predict that Asbury Automotive Group Inc will post $6.24 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABG. Russell Investments Group Ltd. lifted its position in Asbury Automotive Group by 488.2% during 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. UBS Asset Management Americas Inc. lifted its position in Asbury Automotive Group by 121.1% during the first quarter. UBS Asset Management Americas Inc. now owns 8,026 shares of the company’s stock worth $482,000 after buying an additional 4,396 shares during the period. JPMorgan Chase & Co. lifted its position in Asbury Automotive Group by 240.5% during the first quarter. JPMorgan Chase & Co. now owns 86,209 shares of the company’s stock worth $5,181,000 after buying an additional 60,887 shares during the period. Victory Capital Management Inc. lifted its position in Asbury Automotive Group by 45.6% during the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock worth $113,000 after buying an additional 587 shares during the period. Finally, United Services Automobile Association purchased a new position in Asbury Automotive Group during the first quarter worth about $451,000.

ABG has been the topic of a number of recent analyst reports. Craig Hallum reiterated a “hold” rating and set a $55.00 target price (down previously from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. BidaskClub upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Zacks Investment Research upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $58.00 target price (down previously from $60.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Asbury Automotive Group presently has a consensus rating of “Hold” and an average target price of $56.75.

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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