Koch Industries Inc. Buys Shares of 299,433 Asbury Automotive Group Inc (ABG)

Koch Industries Inc. bought a new position in Asbury Automotive Group Inc (NYSE:ABG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 299,433 shares of the company’s stock, valued at approximately $294,000. Koch Industries Inc. owned about 1.44% of Asbury Automotive Group as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Asbury Automotive Group by 6.2% in the second quarter. BlackRock Inc. now owns 2,671,470 shares of the company’s stock worth $151,072,000 after buying an additional 156,996 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Asbury Automotive Group by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,840,061 shares of the company’s stock worth $104,055,000 after buying an additional 62,905 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Asbury Automotive Group by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 820,577 shares of the company’s stock worth $46,403,000 after buying an additional 33,383 shares during the last quarter. FMR LLC purchased a new stake in shares of Asbury Automotive Group in the first quarter worth about $45,869,000. Finally, State Street Corp boosted its stake in shares of Asbury Automotive Group by 4.4% in the second quarter. State Street Corp now owns 592,006 shares of the company’s stock worth $33,477,000 after buying an additional 24,719 shares during the last quarter.

Asbury Automotive Group Inc (NYSE ABG) opened at 56.65 on Thursday. Asbury Automotive Group Inc has a 12-month low of $47.50 and a 12-month high of $71.00. The company has a 50-day moving average price of $58.43 and a 200-day moving average price of $56.67. The firm has a market cap of $1.18 billion, a PE ratio of 7.37 and a beta of 1.45.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($0.09). Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm posted $1.65 EPS. Asbury Automotive Group’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts predict that Asbury Automotive Group Inc will post $6.30 earnings per share for the current year.

ABG has been the topic of a number of recent research reports. 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 note on Thursday, June 22nd. BidaskClub downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Craig Hallum reaffirmed a “hold” rating and issued a $55.00 price target (down previously from $65.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price target (down previously from $68.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.75.

In other news, Director Msd Capital L. P sold 104,949 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $51.27, for a total transaction of $5,380,735.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Frederick Stax sold 495 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $54.25, for a total transaction of $26,853.75. Following the sale, the insider now owns 4,586 shares of the company’s stock, valued at $248,790.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,444 shares of company stock valued at $5,700,889. Insiders own 11.90% of the company’s stock.

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About Asbury Automotive Group

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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