Edgestream Partners L.P. Makes New $2.39 Million Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Edgestream Partners L.P. acquired a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,030 shares of the company’s stock, valued at approximately $2,393,000. Edgestream Partners L.P. owned about 0.05% of Asbury Automotive Group at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in Asbury Automotive Group during the 3rd quarter valued at about $31,000. Quarry LP acquired a new position in shares of Asbury Automotive Group during the second quarter valued at about $38,000. GAMMA Investing LLC increased its holdings in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after acquiring an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Asbury Automotive Group in the 2nd quarter valued at approximately $155,000. Finally, Headlands Technologies LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter worth approximately $190,000.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $265.02 on Tuesday. The firm has a market capitalization of $5.19 billion, a P/E ratio of 15.00 and a beta of 1.16. The stock has a 50-day simple moving average of $241.65 and a two-hundred day simple moving average of $237.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. Asbury Automotive Group, Inc. has a fifty-two week low of $195.09 and a fifty-two week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business posted $8.12 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Analysts Set New Price Targets

ABG has been the topic of a number of recent analyst reports. Stephens assumed coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Craig Hallum increased their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Bank of America decreased their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Asbury Automotive Group presently has a consensus rating of “Hold” and a consensus price target of $256.20.

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.