Insider Selling: Asbury Automotive Group, Inc. (NYSE:ABG) COO Sells 1,217 Shares of Stock

Asbury Automotive Group, Inc. (NYSE:ABG) COO Daniel Clara sold 1,217 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Asbury Automotive Group Stock Down 2.1 %

Shares of ABG traded down $6.24 during midday trading on Wednesday, hitting $294.55. The stock had a trading volume of 179,116 shares, compared to its average volume of 204,979. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. Asbury Automotive Group, Inc. has a twelve month low of $202.98 and a twelve month high of $312.56. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 13.69 and a beta of 1.20. The company has a 50 day simple moving average of $262.24 and a two-hundred day simple moving average of $246.58.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in shares of Asbury Automotive Group in the third quarter valued at $804,000. Intech Investment Management LLC bought a new stake in Asbury Automotive Group during the third quarter worth $1,223,000. Empirical Asset Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at about $484,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Asbury Automotive Group during the 4th quarter valued at approximately $221,000. Finally, International Assets Investment Management LLC bought a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $154,270,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABG. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Stephens boosted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Craig Hallum raised Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $264.00.

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.