Mackay Shields LLC trimmed its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 51.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,200 shares of the company’s stock after selling 10,800 shares during the period. Mackay Shields LLC owned 0.05% of Asbury Automotive Group worth $789,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ABG. Nuveen Asset Management LLC boosted its stake in Asbury Automotive Group by 0.6% during the 4th quarter. Nuveen Asset Management LLC now owns 74,037 shares of the company’s stock valued at $8,276,000 after purchasing an additional 432 shares during the period. Macquarie Group Ltd. boosted its stake in Asbury Automotive Group by 11.4% during the 4th quarter. Macquarie Group Ltd. now owns 501,959 shares of the company’s stock valued at $56,114,000 after purchasing an additional 51,500 shares during the period. Denali Advisors LLC acquired a new position in Asbury Automotive Group during the 1st quarter valued at about $88,000. Pacer Advisors Inc. acquired a new stake in shares of Asbury Automotive Group in the 1st quarter worth approximately $279,000. Finally, Texas Permanent School Fund lifted its stake in shares of Asbury Automotive Group by 24.0% in the 1st quarter. Texas Permanent School Fund now owns 16,412 shares of the company’s stock worth $906,000 after acquiring an additional 3,178 shares during the period.

In other news, CAO William Frederick Stax sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $105.00, for a total transaction of $73,500.00. Following the sale, the chief accounting officer now owns 4,731 shares in the company, valued at $496,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jed Milstein sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $77.31, for a total transaction of $177,813.00. Following the sale, the senior vice president now owns 13,977 shares in the company, valued at approximately $1,080,561.87. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

ABG stock opened at $108.31 on Friday. Asbury Automotive Group, Inc. has a 12 month low of $39.36 and a 12 month high of $123.44. The firm has a market cap of $1.94 billion, a PE ratio of 13.26 and a beta of 1.72. The firm has a 50 day simple moving average of $91.94 and a 200 day simple moving average of $78.58. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.78 and a quick ratio of 1.07.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 28th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.49 by $0.03. Asbury Automotive Group had a net margin of 2.32% and a return on equity of 27.07%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $2.38 earnings per share. The business’s quarterly revenue was down 19.9% on a year-over-year basis. As a group, sell-side analysts expect that Asbury Automotive Group, Inc. will post 9.98 earnings per share for the current year.

ABG has been the subject of a number of research analyst reports. SunTrust Banks upped their price target on shares of Asbury Automotive Group from $70.00 to $100.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. ValuEngine raised shares of Asbury Automotive Group from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. TheStreet raised shares of Asbury Automotive Group from a “c+” rating to a “b” rating in a research note on Tuesday, July 14th. Craig Hallum lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $100.00 to $110.00 in a research note on Wednesday, July 29th. Finally, Morgan Stanley upped their price target on shares of Asbury Automotive Group from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Asbury Automotive Group currently has an average rating of “Hold” and a consensus price target of $101.33.

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.

Further Reading: Limitations of the P/E Growth ratio

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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