Asbury Automotive Group (NYSE:ABG) Trading Down 3.2% – Here’s Why

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price was down 3.2% during mid-day trading on Monday . The company traded as low as $220.23 and last traded at $220.99. Approximately 21,898 shares changed hands during trading, a decline of 89% from the average daily volume of 197,644 shares. The stock had previously closed at $228.28.

Analysts Set New Price Targets

Several research analysts have commented on ABG shares. Stephens upped their target price on shares of 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. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and an average target price of $263.00.

Asbury Automotive Group Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The business has a 50 day simple moving average of $252.25 and a 200-day simple moving average of $250.15. The stock has a market capitalization of $4.37 billion, a P/E ratio of 10.34 and a beta of 1.04.

Insider Buying and Selling

In other news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of Asbury Automotive Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABG. GoodHaven Capital Management LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter valued at $2,916,000. Magnolia Group LLC raised its position in shares of Asbury Automotive Group by 2.1% during the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock worth $36,241,000 after purchasing an additional 3,000 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Asbury Automotive Group by 52.3% during the fourth quarter. Intech Investment Management LLC now owns 7,805 shares of the company’s stock valued at $1,897,000 after purchasing an additional 2,680 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at $221,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Asbury Automotive Group by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock valued at $51,465,000 after purchasing an additional 3,273 shares during the period.

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.