Asbury Automotive Group, Inc. $ABG Shares Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC increased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 33.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,713 shares of the company’s stock after purchasing an additional 430 shares during the period. EntryPoint Capital LLC’s holdings in Asbury Automotive Group were worth $378,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Asbury Automotive Group by 43.9% during the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock worth $36,000 after purchasing an additional 50 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $49,000. GAMMA Investing LLC boosted its position in shares of Asbury Automotive Group by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock worth $129,000 after purchasing an additional 165 shares during the period. CWM LLC boosted its position in shares of Asbury Automotive Group by 7.5% during the 1st quarter. CWM LLC now owns 858 shares of the company’s stock worth $189,000 after purchasing an additional 60 shares during the period. Finally, TD Private Client Wealth LLC purchased a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $197,000.

Asbury Automotive Group Price Performance

Shares of ABG opened at $240.68 on Thursday. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The firm’s fifty day simple moving average is $239.56 and its 200-day simple moving average is $241.46. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 1.62 and a beta of 0.87. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, beating analysts’ consensus estimates of $6.82 by $0.61. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the company earned $6.40 earnings per share. Asbury Automotive Group’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insider Activity at Asbury Automotive Group

In other news, Director Juanita T. James sold 625 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total value of $152,562.50. Following the completion of the sale, the director directly owned 6,855 shares of the company’s stock, valued at approximately $1,673,305.50. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ABG shares. Cfra set a $225.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, July 29th. Wall Street Zen raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Stephens raised shares of Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $225.00 to $277.00 in a research report on Wednesday, August 13th. Bank of America raised their price target on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Finally, Citigroup started coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price target for the company. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Asbury Automotive Group presently has an average rating of “Hold” and an average price target of $254.00.

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.