Asbury Automotive Group, Inc. (NYSE:ABG) Shares Bought by Origin Asset Management LLP

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Origin Asset Management LLP grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 1,305.4% in the first quarter, Holdings Channel reports. The institutional investor owned 57,060 shares of the company’s stock after purchasing an additional 53,000 shares during the period. Origin Asset Management LLP’s holdings in Asbury Automotive Group were worth $3,958,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of Asbury Automotive Group by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 7,592 shares of the company’s stock valued at $527,000 after buying an additional 137 shares during the last quarter. Mason Street Advisors LLC increased its stake in Asbury Automotive Group by 2.9% in the first quarter. Mason Street Advisors LLC now owns 6,262 shares of the company’s stock valued at $434,000 after acquiring an additional 175 shares during the period. Bank of Montreal Can increased its stake in Asbury Automotive Group by 26.1% in the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock valued at $71,000 after acquiring an additional 209 shares during the period. Piedmont Investment Advisors Inc. increased its stake in Asbury Automotive Group by 5.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 4,922 shares of the company’s stock valued at $341,000 after acquiring an additional 262 shares during the period. Finally, Comerica Bank increased its stake in Asbury Automotive Group by 1.5% in the first quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $1,408,000 after acquiring an additional 286 shares during the period.

NYSE ABG traded down $0.87 on Wednesday, reaching $78.54. The company’s stock had a trading volume of 38,867 shares, compared to its average volume of 165,353. The stock has a market cap of $1.53 billion, a P/E ratio of 9.34, a PEG ratio of 0.61 and a beta of 1.20. Asbury Automotive Group, Inc. has a 52 week low of $58.60 and a 52 week high of $82.30. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 1.85.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, April 23rd. The company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.28. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Asbury Automotive Group had a net margin of 2.43% and a return on equity of 36.35%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 earnings per share. Research analysts anticipate that Asbury Automotive Group, Inc. will post 8.97 earnings per share for the current year.

A number of analysts recently weighed in on ABG shares. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Tuesday, February 12th. JPMorgan Chase & Co. started coverage on shares of Asbury Automotive Group in a research note on Tuesday, February 19th. They issued a “neutral” rating and a $82.00 target price on the stock. Craig Hallum raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Wednesday, April 24th. Finally, Morgan Stanley upped their target price on shares of Asbury Automotive Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $81.50.

In other Asbury Automotive Group news, VP William Frederick Stax sold 1,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the vice president now directly owns 3,888 shares of the company’s stock, valued at $307,735.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Hult sold 15,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $79.25, for a total transaction of $1,188,750.00. Following the sale, the chief executive officer now directly owns 25,703 shares in the company, valued at $2,036,962.75. The disclosure for this sale can be found here. Insiders have sold 32,599 shares of company stock worth $2,589,539 over the last ninety days. Insiders own 1.36% of the company’s stock.

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Asbury Automotive Group Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.

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

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