Amalgamated Bank Reduces Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Amalgamated Bank lessened its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,889 shares of the company’s stock after selling 267 shares during the period. Amalgamated Bank’s holdings in Asbury Automotive Group were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABG. Assenagon Asset Management S.A. boosted its position in Asbury Automotive Group by 366.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares in the last quarter. Eminence Capital LP increased its holdings in shares of Asbury Automotive Group by 41.5% during the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after purchasing an additional 146,246 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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. International Assets Investment Management LLC acquired a new stake in Asbury Automotive Group during the third quarter valued at $154,270,000. Finally, Khrom Capital Management LLC acquired a new stake in Asbury Automotive Group during the second quarter valued at $14,572,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday. Stephens began coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective for the company. Finally, Craig Hallum increased their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Trading Up 2.4 %

ABG stock opened at $264.89 on Thursday. Asbury Automotive Group, Inc. has a 12-month low of $195.09 and a 12-month high of $277.13. The business’s 50-day moving average is $231.86 and its 200 day moving average is $233.74. 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 cap of $5.19 billion, a price-to-earnings ratio of 14.99 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly 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 return on equity of 16.51% and a net margin of 2.16%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $8.12 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 25.37 EPS for the current fiscal year.

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.