MGO One Seven LLC Lowers Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

MGO One Seven LLC lowered its position in Asbury Automotive Group, Inc. (NYSE:ABGFree Report) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,420 shares of the company’s stock after selling 289 shares during the period. MGO One Seven LLC’s holdings in Asbury Automotive Group were worth $557,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Asbury Automotive Group by 94.0% in the third quarter. CWM LLC now owns 161 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares during the period. Ronald Blue Trust Inc. grew its holdings in shares of Asbury Automotive Group by 93.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 186 shares of the company’s stock worth $45,000 after acquiring an additional 90 shares during the period. Byrne Asset Management LLC raised its holdings in Asbury Automotive Group by 1,630.8% in the second quarter. Byrne Asset Management LLC now owns 225 shares of the company’s stock worth $54,000 after purchasing an additional 212 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Asbury Automotive Group by 66.9% during the first quarter. Belpointe Asset Management LLC now owns 227 shares of the company’s stock valued at $48,000 after buying an additional 91 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in Asbury Automotive Group during the second quarter valued at $264,000.

Asbury Automotive Group Trading Up 1.1 %

Shares of Asbury Automotive Group stock traded up $2.33 during mid-day trading on Friday, hitting $213.92. The stock had a trading volume of 140,438 shares, compared to its average volume of 131,086. The firm has a 50-day moving average of $214.17 and a two-hundred day moving average of $217.82. The company has a quick ratio of 0.82, a current ratio of 2.07 and a debt-to-equity ratio of 0.97. Asbury Automotive Group, Inc. has a 12-month low of $178.40 and a 12-month high of $256.39. The firm has a market cap of $4.40 billion, a P/E ratio of 5.06 and a beta of 1.17.

Asbury Automotive Group (NYSE:ABGGet Free Report) last issued its earnings results on Tuesday, October 24th. The company reported $8.12 earnings per share for the quarter, missing the consensus estimate of $8.44 by ($0.32). Asbury Automotive Group had a return on equity of 24.10% and a net margin of 6.13%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.72 billion. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 33.24 earnings per share for the current year.

Insider Activity

In related news, Director Philip F. Maritz sold 1,651 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $227.65, for a total value of $375,850.15. Following the completion of the transaction, the director now directly owns 6,522 shares of the company’s stock, valued at approximately $1,484,733.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Asbury Automotive Group news, SVP Daniel Clara sold 4,618 shares of Asbury Automotive Group stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $237.11, for a total transaction of $1,094,973.98. Following the transaction, the senior vice president now directly owns 6,047 shares of the company’s stock, valued at $1,433,804.17. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Philip F. Maritz sold 1,651 shares of Asbury Automotive Group stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $227.65, for a total transaction of $375,850.15. Following the transaction, the director now directly owns 6,522 shares in the company, valued at $1,484,733.30. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ABG shares. StockNews.com assumed coverage on Asbury Automotive Group in a report on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of Asbury Automotive Group from a “neutral” rating to an “overweight” rating and set a $245.00 price objective on the stock in a report on Tuesday, October 31st.

Read Our Latest Stock Analysis on ABG

Asbury Automotive Group 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.

Further Reading

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

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