Asbury Automotive Group, Inc. (ABG) Stake Increased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA raised its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 251.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,638 shares of the company’s stock after acquiring an additional 4,032 shares during the period. BNP Paribas Arbitrage SA’s holdings in Asbury Automotive Group were worth $391,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of Asbury Automotive Group by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,419 shares of the company’s stock valued at $95,000 after purchasing an additional 325 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Asbury Automotive Group by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,611 shares of the company’s stock valued at $107,000 after purchasing an additional 390 shares during the period. Denali Advisors LLC lifted its stake in shares of Asbury Automotive Group by 3,991.5% in the first quarter. Denali Advisors LLC now owns 1,923 shares of the company’s stock valued at $133,000 after purchasing an additional 1,876 shares during the period. 6 Meridian acquired a new stake in shares of Asbury Automotive Group in the first quarter valued at about $205,000. Finally, Amalgamated Bank acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at about $209,000.

Shares of NYSE ABG opened at $78.57 on Friday. 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, Inc. has a 52 week low of $58.60 and a 52 week high of $82.30. The stock has a market capitalization of $1.55 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.63 and a beta of 1.22.

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 Thomson Reuters’ consensus estimate of $1.92 by $0.28. Asbury Automotive Group had a net margin of 2.43% and a return on equity of 36.35%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted $1.93 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Asbury Automotive Group, Inc. will post 8.93 EPS for the current fiscal year.

In other Asbury Automotive Group news, CEO David W. Hult sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $79.25, for a total transaction of $1,188,750.00. Following the completion of the transaction, the chief executive officer now directly owns 25,703 shares in the company, valued at approximately $2,036,962.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene S. Katz sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $80.70, for a total transaction of $242,100.00. Following the transaction, the director now owns 20,122 shares of the company’s stock, valued at $1,623,845.40. The disclosure for this sale can be found here. Insiders have sold a total of 58,599 shares of company stock valued at $4,435,949 over the last 90 days. 1.36% of the stock is currently owned by insiders.

ABG has been the subject of several recent analyst reports. Craig Hallum upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. initiated coverage on shares of Asbury Automotive Group in a research note on Tuesday, February 19th. They issued a “neutral” rating and a $82.00 price objective for the company. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Wednesday, January 23rd. Finally, Morgan Stanley raised their price objective 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. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $81.83.

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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.

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

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