New York State Teachers Retirement System Has $3.22 Million Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

New York State Teachers Retirement System cut its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,484 shares of the company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Asbury Automotive Group worth $3,217,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after buying an additional 69,975 shares in the last quarter. Eminence Capital LP grew its position in Asbury Automotive Group by 41.5% during the second quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock worth $113,603,000 after buying an additional 146,246 shares in the last quarter. Bank of New York Mellon Corp grew its position in Asbury Automotive Group by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock worth $45,065,000 after buying an additional 7,754 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Asbury Automotive Group by 366.1% during the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after buying an additional 148,910 shares in the last quarter. Finally, Magnolia Group LLC grew its position in Asbury Automotive Group by 7.8% during the second quarter. Magnolia Group LLC now owns 110,000 shares of the company’s stock worth $25,066,000 after buying an additional 8,000 shares in the last quarter.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $259.20 on Thursday. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The firm has a 50 day moving average of $229.76 and a 200-day moving average of $232.28. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $5.08 billion, a P/E ratio of 14.67 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $8.12 EPS. The business’s revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 25.59 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America cut their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Stephens assumed coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target for the company. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Craig Hallum raised their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $256.20.

About Asbury Automotive Group

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.