Asbury Automotive Group, Inc. (NYSE:ABG) Short Interest Up 18.5% in March

Asbury Automotive Group, Inc. (NYSE:ABG) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 1,172,995 shares, a growth of 18.5% from the February 26th total of 990,235 shares. Currently, 6.1% of the shares of the stock are short sold. Based on an average daily volume of 243,456 shares, the short-interest ratio is presently 4.8 days.

Asbury Automotive Group Stock Up 0.9%

Asbury Automotive Group stock traded up $1.76 during mid-day trading on Tuesday, reaching $195.21. 171,925 shares of the company’s stock were exchanged, compared to its average volume of 254,168. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. Asbury Automotive Group has a twelve month low of $184.61 and a twelve month high of $274.50. The company has a market cap of $3.77 billion, a P/E ratio of 7.78 and a beta of 0.81. The company has a fifty day moving average of $216.20 and a 200-day moving average of $230.61.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Thursday, February 5th. The company reported $6.67 earnings per share for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). The company 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 14.51% and a net margin of 2.73%.The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $7.26 EPS. Sell-side analysts expect that Asbury Automotive Group will post 26.28 EPS for the current year.

Wall Street Analyst Weigh In

ABG has been the topic of a number of recent analyst reports. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a research report on Monday, December 8th. Bank of America began coverage on shares of Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Weiss Ratings cut shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of Asbury Automotive Group from $235.00 to $240.00 and gave the company an “underweight” rating in a report on Friday, March 20th. Finally, Barclays cut their target price on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research report on Friday, February 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Asbury Automotive Group has an average rating of “Hold” and a consensus price target of $248.29.

Insider Buying and Selling

In other news, Director B. Christopher Disantis purchased 500 shares of Asbury Automotive Group stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $25,000. Torren Management LLC purchased a new position in Asbury Automotive Group in the 4th quarter valued at $27,000. Quarry LP lifted its position in Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 83 shares during the period. Bogart Wealth LLC boosted its stake in shares of Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after buying an additional 44 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Asbury Automotive Group by 69.2% during the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after purchasing an additional 54 shares during the period.

About Asbury Automotive Group

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.