Proficio Capital Partners LLC Makes New Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Proficio Capital Partners LLC bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG) in the 4th quarter, Holdings Channel reports. The firm bought 21,873 shares of the company’s stock, valued at approximately $5,316,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC purchased a new stake in Asbury Automotive Group in the third quarter worth about $26,573,000. Rockefeller Capital Management L.P. bought a new stake in shares of Asbury Automotive Group in the 3rd quarter valued at about $14,219,000. Stifel Financial Corp lifted its position in shares of Asbury Automotive Group by 1,990.9% in the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after purchasing an additional 18,973 shares during the period. Barclays PLC boosted its stake in shares of Asbury Automotive Group by 94.9% during the third quarter. Barclays PLC now owns 38,644 shares of the company’s stock valued at $9,220,000 after purchasing an additional 18,821 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Asbury Automotive Group by 23.9% during the third quarter. Citigroup Inc. now owns 54,917 shares of the company’s stock valued at $13,103,000 after buying an additional 10,603 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABG. JPMorgan Chase & Co. lowered their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Stephens increased their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $264.00.

Asbury Automotive Group Stock Down 3.6 %

Shares of ABG stock opened at $258.66 on Tuesday. The stock’s fifty day moving average price is $267.35 and its 200 day moving average price is $249.71. Asbury Automotive Group, Inc. has a 1-year low of $202.98 and a 1-year high of $312.56. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 12.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Insider Transactions at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

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.