Neuberger Berman Group LLC Raises Position in Asbury Automotive Group (ABG)

Neuberger Berman Group LLC increased its holdings in Asbury Automotive Group (NYSE:ABG) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,261,699 shares of the company’s stock after buying an additional 21,789 shares during the quarter. Neuberger Berman Group LLC owned about 6.12% of Asbury Automotive Group worth $85,165,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its holdings in Asbury Automotive Group by 3.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 219,423 shares of the company’s stock worth $14,812,000 after buying an additional 8,048 shares during the period. Chicago Equity Partners LLC increased its holdings in Asbury Automotive Group by 54.7% in the 1st quarter. Chicago Equity Partners LLC now owns 26,760 shares of the company’s stock worth $1,806,000 after buying an additional 9,460 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Asbury Automotive Group in the 1st quarter worth approximately $251,000. Quantitative Systematic Strategies LLC acquired a new position in Asbury Automotive Group in the 1st quarter worth approximately $259,000. Finally, LSV Asset Management increased its holdings in Asbury Automotive Group by 5.4% in the 1st quarter. LSV Asset Management now owns 205,400 shares of the company’s stock worth $13,864,000 after buying an additional 10,500 shares during the period.

In other news, Director Juanita T. James sold 1,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $66.18, for a total transaction of $66,180.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP George Karolis sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $69.54, for a total value of $219,051.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock worth $497,035 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.



A number of brokerages have recently commented on ABG. Zacks Investment Research cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Morgan Stanley raised their price objective on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 14th. ValuEngine cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Buckingham Research raised their price objective on shares of Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Finally, Craig Hallum raised their price objective on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.33.

Shares of Asbury Automotive Group opened at $69.70 on Friday, according to MarketBeat. The company has a market cap of $1.46 billion, a PE ratio of 10.84, a PEG ratio of 0.83 and a beta of 1.54. Asbury Automotive Group has a 12 month low of $49.10 and a 12 month high of $76.40. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.38 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Asbury Automotive Group had a net margin of 2.23% and a return on equity of 38.22%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS. analysts forecast that Asbury Automotive Group will post 7.76 EPS for the current fiscal year.

About Asbury Automotive Group

Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

Want to see what other hedge funds are holding ABG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Asbury Automotive Group (NYSE:ABG).

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

Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply