Artisan Partners Limited Partnership Acquires Shares of 210,335 Asbury Automotive Group, Inc. (NYSE:ABG)

Artisan Partners Limited Partnership bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 210,335 shares of the company’s stock, valued at approximately $51,118,000. Artisan Partners Limited Partnership owned approximately 1.07% of Asbury Automotive Group at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Madison Investment Advisors LLC purchased a new stake in Asbury Automotive Group during the 4th quarter worth $82,426,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Asbury Automotive Group during the third quarter worth about $14,219,000. Proficio Capital Partners LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $5,316,000. Stifel Financial Corp lifted its stake in shares of Asbury Automotive Group by 1,990.9% in the third quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after acquiring an additional 18,973 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Asbury Automotive Group by 94.9% in the third quarter. Barclays PLC now owns 38,644 shares of the company’s stock valued at $9,220,000 after purchasing an additional 18,821 shares during the last quarter.

Insider Transactions at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $217.75 on Friday. The stock has a market capitalization of $4.28 billion, a PE ratio of 10.12 and a beta of 1.22. The business’s fifty day moving average price is $266.44 and its 200 day moving average price is $250.31. 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 12-month low of $206.62 and a 12-month high of $312.56.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $263.00.

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.