Voloridge Investment Management LLC Purchases 24,561 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Voloridge Investment Management LLC lifted its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 37.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,198 shares of the company’s stock after acquiring an additional 24,561 shares during the period. Voloridge Investment Management LLC owned 0.46% of Asbury Automotive Group worth $21,921,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Asbury Automotive Group by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company’s stock worth $269,322,000 after buying an additional 9,688 shares during the last quarter. Eminence Capital LP grew its stake in shares of Asbury Automotive Group by 15.8% in the 4th quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock worth $191,453,000 after buying an additional 107,317 shares during the last quarter. Timucuan Asset Management Inc. FL grew its stake in shares of Asbury Automotive Group by 0.5% in the 4th quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company’s stock worth $172,035,000 after buying an additional 3,490 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $82,426,000. Finally, Norges Bank purchased a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $82,079,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABG. Wall Street Zen upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their price target 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. Citigroup began coverage on Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price target on the stock. Craig Hallum downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Stephens increased their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $258.50.

Asbury Automotive Group Price Performance

NYSE ABG opened at $226.67 on Friday. The business’s fifty day moving average price is $225.36 and its 200-day moving average price is $249.02. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.54 and a beta of 0.98. 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 1-year low of $201.68 and a 1-year high of $312.56.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing the consensus estimate of $6.84 by ($0.02). The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. Asbury Automotive Group’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $7.21 earnings per share. On average, equities analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

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.