Moon Capital Management LP Lowers Stake in Asbury Automotive Group, Inc. $ABG

Moon Capital Management LP cut its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 79.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,153 shares of the company’s stock after selling 8,520 shares during the quarter. Asbury Automotive Group makes up approximately 0.4% of Moon Capital Management LP’s holdings, making the stock its 11th biggest holding. Moon Capital Management LP’s holdings in Asbury Automotive Group were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABG. Osaic Holdings Inc. raised its stake in Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after buying an additional 54 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Asbury Automotive Group by 7.3% during the third quarter. Nisa Investment Advisors LLC now owns 825 shares of the company’s stock worth $202,000 after buying an additional 56 shares during the period. CWM LLC grew its stake in Asbury Automotive Group by 7.6% during the 2nd quarter. CWM LLC now owns 923 shares of the company’s stock valued at $220,000 after purchasing an additional 65 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Asbury Automotive Group by 17.8% in the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the company’s stock valued at $113,000 after buying an additional 71 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Asbury Automotive Group by 0.8% during the second quarter. Lazard Asset Management LLC now owns 9,375 shares of the company’s stock worth $2,236,000 after purchasing an additional 71 shares during the last quarter.

Asbury Automotive Group Stock Down 2.6%

Shares of NYSE ABG opened at $220.20 on Tuesday. The business’s 50 day moving average is $237.67 and its two-hundred day moving average is $239.10. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $280.11. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 8.78 and a beta of 0.82. The company has a quick ratio of 0.30, a current ratio of 0.99 and a debt-to-equity ratio of 0.90.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Asbury Automotive Group had a return on equity of 14.63% and a net margin of 2.73%.The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $7.26 earnings per share. Research analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analyst Weigh In

ABG has been the subject of a number of analyst reports. Barclays decreased their price target on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating for the company in a report on Friday, February 6th. Weiss Ratings raised Asbury Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Zacks Research lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Morgan Stanley set a $230.00 target price on Asbury Automotive Group in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the company an “underweight” rating in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and a consensus target price of $247.57.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.