Louisiana State Employees Retirement System Sells 400 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Louisiana State Employees Retirement System reduced its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,700 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Asbury Automotive Group were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of Asbury Automotive Group by 1.0% in the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after buying an additional 51 shares during the period. Oak Associates Ltd. OH boosted its stake in shares of Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after buying an additional 51 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock valued at $2,588,000 after buying an additional 60 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Asbury Automotive Group by 0.3% in the first quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock valued at $5,819,000 after buying an additional 62 shares during the period. Finally, SummerHaven Investment Management LLC raised its position in Asbury Automotive Group by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock valued at $690,000 after purchasing an additional 66 shares in the last quarter.

Asbury Automotive Group Stock Up 1.1 %

Shares of NYSE:ABG opened at $225.36 on Tuesday. The company has a fifty day moving average of $229.87 and a 200-day moving average of $231.27. The company has a market capitalization of $4.55 billion, a PE ratio of 8.21 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25. Asbury Automotive Group, Inc. has a 52-week low of $184.47 and a 52-week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $8.95 earnings per share. On average, equities analysts predict that Asbury Automotive Group, Inc. will post 26.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ABG shares. Bank of America lowered their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Stephens started coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Finally, Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $251.20.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO David W. Hult sold 500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Asbury Automotive Group Company 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.