Koss Olinger Consulting LLC Makes New Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Koss Olinger Consulting LLC bought a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,935 shares of the company’s stock, valued at approximately $2,492,000. Koss Olinger Consulting LLC owned approximately 0.05% of Asbury Automotive Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABG. Foundry Partners LLC grew its stake in Asbury Automotive Group by 5.3% during the second quarter. Foundry Partners LLC now owns 22,155 shares of the company’s stock valued at $5,048,000 after acquiring an additional 1,115 shares in the last quarter. Arizona State Retirement System boosted its holdings in Asbury Automotive Group by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after purchasing an additional 51 shares during the period. Victory Capital Management Inc. grew its position in shares of Asbury Automotive Group by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 19,928 shares of the company’s stock valued at $4,541,000 after purchasing an additional 448 shares in the last quarter. Sage Rhino Capital LLC bought a new position in shares of Asbury Automotive Group in the second quarter worth $208,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Asbury Automotive Group in the second quarter worth $376,000.

Analyst Ratings Changes

ABG has been the subject of several research analyst reports. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. downgraded Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price target for the company. in a research report on Monday, June 10th. Finally, Morgan Stanley upped their price objective on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th.

Insiders Place Their Bets

In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David W. Hult sold 500 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the sale, the insider now directly owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Asbury Automotive Group Stock Down 3.8 %

Shares of NYSE:ABG opened at $221.89 on Friday. The firm has a market capitalization of $4.48 billion, a PE ratio of 8.09 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25. Asbury Automotive Group, Inc. has a 52-week low of $178.40 and a 52-week high of $277.13. The firm has a fifty day moving average of $238.74 and a 200 day moving average of $228.73.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. Asbury Automotive Group’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.95 earnings per share. As a group, research analysts anticipate that Asbury Automotive Group, Inc. will post 27.06 EPS for the current fiscal year.

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.