MQS Management LLC Sells 274 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

MQS Management LLC reduced its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 17.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,313 shares of the company’s stock after selling 274 shares during the period. MQS Management LLC’s holdings in Asbury Automotive Group were worth $310,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABG. Blue Trust Inc. increased its holdings in Asbury Automotive Group by 31.2% during the 4th quarter. Blue Trust Inc. now owns 244 shares of the company’s stock worth $56,000 after purchasing an additional 58 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Asbury Automotive Group during the fourth quarter valued at about $12,855,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Asbury Automotive Group by 31.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,589 shares of the company’s stock valued at $3,957,000 after buying an additional 4,198 shares during the period. Cerity Partners LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $297,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth about $2,317,000.

Analysts Set New Price Targets

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

Asbury Automotive Group Stock Up 1.0 %

Shares of NYSE ABG traded up $2.50 on Friday, reaching $251.95. 17,150 shares of the company’s stock traded hands, compared to its average volume of 170,966. Asbury Automotive Group, Inc. has a 12 month low of $178.40 and a 12 month high of $259.67. The business’s 50 day simple moving average is $235.20 and its two-hundred day simple moving average is $222.60. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 9.09 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.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Thursday, April 25th. The company reported $7.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $8.37 EPS. Asbury Automotive Group’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities research analysts forecast that Asbury Automotive Group, Inc. will post 29.12 EPS for the current fiscal year.

About Asbury Automotive Group

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.