Covestor Ltd Acquires 311 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Covestor Ltd grew its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,576 shares of the company’s stock after purchasing an additional 311 shares during the quarter. Asbury Automotive Group comprises approximately 0.4% of Covestor Ltd’s investment portfolio, making the stock its 23rd largest position. Covestor Ltd’s holdings in Asbury Automotive Group were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its holdings in Asbury Automotive Group by 0.5% during the 3rd quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after acquiring an additional 3,672 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $82,426,000. Norges Bank bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $82,079,000. Charles Schwab Investment Management Inc. boosted its position in shares of Asbury Automotive Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock valued at $51,465,000 after purchasing an additional 3,273 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in shares of Asbury Automotive Group during the fourth quarter valued at $51,118,000.

Insider Transactions at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABG has been the topic of a number of research analyst reports. Stephens boosted their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $263.00.

Asbury Automotive Group Price Performance

ABG stock traded down $11.46 on Thursday, hitting $221.75. 20,257 shares of the company’s stock traded hands, compared to its average volume of 196,851. The stock has a fifty day moving average of $256.49 and a 200-day moving average of $250.27. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 10.31 and a beta of 1.04. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

About Asbury Automotive Group

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.