Capstone Investment Advisors LLC Raises Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Capstone Investment Advisors LLC grew its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 379.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,798 shares of the company’s stock after buying an additional 4,589 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Asbury Automotive Group were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ABG. BNP Paribas Financial Markets boosted its position in shares of Asbury Automotive Group by 26.4% during the first quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock valued at $4,768,000 after buying an additional 4,224 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Asbury Automotive Group during the 1st quarter valued at about $895,000. Van ECK Associates Corp grew its stake in shares of Asbury Automotive Group by 42.1% in the first quarter. Van ECK Associates Corp now owns 25,869 shares of the company’s stock worth $6,100,000 after acquiring an additional 7,667 shares during the period. Argent Capital Management LLC grew its stake in shares of Asbury Automotive Group by 7.2% in the first quarter. Argent Capital Management LLC now owns 11,540 shares of the company’s stock worth $2,721,000 after acquiring an additional 775 shares during the period. Finally, Sightline Wealth Advisors LLC raised its holdings in shares of Asbury Automotive Group by 18.3% during the first quarter. Sightline Wealth Advisors LLC now owns 6,252 shares of the company’s stock valued at $1,474,000 after purchasing an additional 968 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock traded down $0.85 during trading hours on Friday, reaching $224.76. 166,124 shares of the stock traded hands, compared to its average volume of 183,699. Asbury Automotive Group, Inc. has a one year low of $178.40 and a one year high of $256.39. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 8.19 and a beta of 1.17. The company has a quick ratio of 0.38, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average price of $229.58 and a 200 day moving average price of $220.48.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.76 by ($0.55). Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm posted $8.37 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 29.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut shares of Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 target price on the stock. in a report on Monday, June 10th.

Asbury Automotive Group 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.