Asbury Automotive Group, Inc. (NYSE:ABG) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 18.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,946 shares of the company’s stock after purchasing an additional 609 shares during the period. Bridges Investment Management Inc.’s holdings in Asbury Automotive Group were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABG. Natixis Advisors LLC purchased a new stake in Asbury Automotive Group during the 3rd quarter worth approximately $26,573,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Asbury Automotive Group in the third quarter worth approximately $14,219,000. Proficio Capital Partners LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth approximately $5,316,000. Stifel Financial Corp raised its stake in Asbury Automotive Group by 1,990.9% in the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock valued at $4,754,000 after purchasing an additional 18,973 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Asbury Automotive Group by 94.9% in the 3rd 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 in the last quarter.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock opened at $268.11 on Monday. The firm has a 50 day simple moving average of $267.35 and a 200-day simple moving average of $249.53. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 12.46 and a beta of 1.20. 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 1-year low of $202.98 and a 1-year high of $312.56.

Insider Activity at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This trade 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 this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABG. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Stephens upped their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $264.00.

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.