Truist Financial Corp cut its holdings in Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 24.6% in the third quarter, HoldingsChannel reports. The institutional investors owned 4,958 shares of the company’s stock after selling 1,617 shares during the quarter. Truist Financial Corp’s holdings in Asbury Automotive Group were worth $749,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Asbury Automotive Group by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,577,260 shares of the company’s stock worth $412,878,000 after purchasing an additional 122,138 shares during the last quarter. State Street Corp raised its stake in shares of Asbury Automotive Group by 2.0% in the first quarter. State Street Corp now owns 807,809 shares of the company’s stock worth $129,411,000 after purchasing an additional 16,163 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Asbury Automotive Group by 35.4% in the first quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock worth $121,929,000 after purchasing an additional 198,985 shares during the last quarter. Simcoe Capital Management LLC raised its position in Asbury Automotive Group by 7.6% during the second quarter. Simcoe Capital Management LLC now owns 633,145 shares of the company’s stock valued at $107,216,000 after acquiring an additional 44,516 shares in the last quarter. Finally, Eminence Capital LP raised its position in Asbury Automotive Group by 32.2% during the second quarter. Eminence Capital LP now owns 425,097 shares of the company’s stock valued at $71,986,000 after acquiring an additional 103,633 shares in the last quarter.
Asbury Automotive Group Stock Up 3.2 %
Shares of ABG opened at $189.96 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 1.23. Asbury Automotive Group, Inc. has a 12 month low of $138.88 and a 12 month high of $203.92. The stock’s 50 day moving average is $178.98 and its two-hundred day moving average is $170.54. The firm has a market cap of $4.20 billion, a P/E ratio of 5.41, a PEG ratio of 0.34 and a beta of 1.14.
Asbury Automotive Group (NYSE:ABG – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $9.23 EPS for the quarter, beating the consensus estimate of $9.19 by $0.04. Asbury Automotive Group had a return on equity of 34.33% and a net margin of 5.46%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company earned $7.36 earnings per share. Asbury Automotive Group’s quarterly revenue was up 60.7% compared to the same quarter last year. Analysts predict that Asbury Automotive Group, Inc. will post 37.09 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on ABG shares. StockNews.com cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley reduced their price target 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. Finally, JPMorgan Chase & Co. reduced their price target on Asbury Automotive Group from $205.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, October 6th.
About Asbury Automotive Group
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Asbury Automotive Group, Inc operates as 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.
See Also
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