Intech Investment Management LLC Increases Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Intech Investment Management LLC raised its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 52.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,805 shares of the company’s stock after purchasing an additional 2,680 shares during the period. Intech Investment Management LLC’s holdings in Asbury Automotive Group were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares during the last quarter. KBC Group NV boosted its position in shares of Asbury Automotive Group by 52.3% in the 4th quarter. KBC Group NV now owns 769 shares of the company’s stock valued at $187,000 after purchasing an additional 264 shares during the period. Nisa Investment Advisors LLC grew its stake in Asbury Automotive Group by 17.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after buying an additional 123 shares during the last quarter. Stephens Inc. AR acquired a new position in Asbury Automotive Group during the fourth quarter worth approximately $213,000. Finally, Highland Capital Management LLC purchased a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $216,000.

Wall Street Analysts Forecast Growth

ABG has been the topic of several research reports. Stephens raised their price objective on shares of 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 downgraded 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. lowered their price objective on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $264.00.

Insider Activity

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the company’s 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 owns 3,747 shares in the company, valued at $1,111,510.08. This represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

Asbury Automotive Group Price Performance

ABG opened at $231.98 on Friday. Asbury Automotive Group, Inc. has a 52-week low of $206.62 and a 52-week high of $312.56. The company has a 50 day moving average of $267.79 and a two-hundred day moving average of $250.26. The company has a market cap of $4.56 billion, a P/E ratio of 10.78 and a beta of 1.22. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

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.