Simcoe Capital Management LLC Has $115.26 Million Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Simcoe Capital Management LLC decreased its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 20.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 483,105 shares of the company’s stock after selling 124,035 shares during the period. Asbury Automotive Group comprises 15.1% of Simcoe Capital Management LLC’s portfolio, making the stock its biggest position. Simcoe Capital Management LLC owned about 2.47% of Asbury Automotive Group worth $115,264,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Boston Partners bought a new stake in shares of Asbury Automotive Group in the first quarter worth $878,000. Tidal Investments LLC acquired a new stake in Asbury Automotive Group in the 1st quarter valued at $537,000. Bridges Investment Management Inc. bought a new stake in Asbury Automotive Group during the 2nd quarter worth about $760,000. Janney Montgomery Scott LLC acquired a new position in shares of Asbury Automotive Group during the 3rd quarter worth about $804,000. Finally, Intech Investment Management LLC bought a new position in shares of Asbury Automotive Group in the 3rd quarter valued at about $1,223,000.

Analyst Ratings Changes

Several research firms recently issued reports on ABG. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Stephens started coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. Finally, Bank of America decreased their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Asbury Automotive Group has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Stock Down 0.1 %

ABG opened at $259.83 on Monday. The stock’s fifty day simple moving average is $240.91 and its 200 day simple moving average is $236.90. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13. The stock has a market cap of $5.09 billion, a PE ratio of 14.70 and a beta of 1.16. 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 (NYSE:ABG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $8.12 earnings per share. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current 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.