Eminence Capital LP Increases Position in Asbury Automotive Group, Inc. $ABG

by · The Markets Daily

Eminence Capital LP raised its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Free Report) by 36.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,002,160 shares of the company’s stock after purchasing an additional 265,539 shares during the period. Asbury Automotive Group makes up approximately 2.9% of Eminence Capital LP’s portfolio, making the stock its 6th biggest holding. Eminence Capital LP owned about 5.10% of Asbury Automotive Group worth $239,055,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Asbury Automotive Group by 231.8% in the second quarter. BNP Paribas Financial Markets now owns 18,565 shares of the company’s stock valued at $4,428,000 after purchasing an additional 12,969 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Asbury Automotive Group by 700.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock valued at $191,000 after buying an additional 700 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in Asbury Automotive Group during the 2nd quarter valued at $402,000. Quantinno Capital Management LP boosted its holdings in Asbury Automotive Group by 35.6% during the 2nd quarter. Quantinno Capital Management LP now owns 1,311 shares of the company’s stock worth $313,000 after acquiring an additional 344 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Asbury Automotive Group by 5.0% during the 2nd quarter. Sei Investments Co. now owns 19,208 shares of the company’s stock worth $4,582,000 after acquiring an additional 917 shares during the last quarter.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $243.56 on Friday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 1.57 and a beta of 0.88. The stock has a fifty day simple moving average of $234.94 and a two-hundred day simple moving average of $239.33. The company has a current ratio of 0.99, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56.

Asbury Automotive Group (NYSE:ABG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $7.17 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.37. Asbury Automotive Group had a return on equity of 15.26% and a net margin of 3.15%.The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the company earned $6.35 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABG. Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a research report on Monday. Zacks Research lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Barclays cut their target price on Asbury Automotive Group from $275.00 to $251.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Citigroup reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a report on Thursday, September 25th. Finally, Bank of America dropped their price target on Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $250.57.

Check Out Our Latest Report on Asbury Automotive Group

Asbury Automotive Group Company Profile

(Free Report)

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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