GoodHaven Capital Management LLC Purchases New Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

GoodHaven Capital Management LLC purchased a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $2,916,000. Asbury Automotive Group comprises about 0.9% of GoodHaven Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. GoodHaven Capital Management LLC owned 0.06% of Asbury Automotive Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in Asbury Automotive Group during the third quarter valued at approximately $1,223,000. Magnolia Group LLC raised its stake in Asbury Automotive Group by 2.1% in the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock valued at $36,241,000 after buying an additional 3,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $221,000. Empirical Asset Management LLC bought a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $484,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Asbury Automotive Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock valued at $51,465,000 after buying an additional 3,273 shares during the period.

Analyst Ratings Changes

Several research firms have issued reports on ABG. JPMorgan Chase & Co. dropped their price objective on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. 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 upped their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $264.00.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $234.03 on Thursday. The firm has a market cap of $4.60 billion, a P/E ratio of 10.88 and a beta of 1.22. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 1-year low of $206.62 and a 1-year high of $312.56. The business’s 50 day moving average is $268.14 and its 200-day moving average is $250.50.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

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.