Artisan Partners Limited Partnership Acquires New Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Artisan Partners Limited Partnership bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 210,335 shares of the company’s stock, valued at approximately $51,118,000.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Asbury Automotive Group by 0.5% during the third quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after buying an additional 3,672 shares during the period. Madison Investment Advisors LLC acquired a new position in Asbury Automotive Group during the 4th quarter worth $82,426,000. Charles Schwab Investment Management Inc. boosted its position in Asbury Automotive Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock worth $51,465,000 after acquiring an additional 3,273 shares during the period. Magnolia Group LLC grew its stake in shares of Asbury Automotive Group by 2.1% in 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 in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Asbury Automotive Group by 10.8% during the fourth quarter. Natixis Advisors LLC now owns 123,369 shares of the company’s stock valued at $29,982,000 after purchasing an additional 11,995 shares during the period.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $217.75 on Friday. The company has a 50-day moving average of $266.44 and a 200-day moving average of $250.31. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 10.12 and a beta of 1.22. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a twelve month low of $206.62 and a twelve month high of $312.56.

Analyst Ratings Changes

ABG has been the subject of a number of recent analyst reports. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Stephens increased their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $263.00.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This represents 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 this hyperlink. Company insiders own 0.53% of the company’s stock.

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.