GoodHaven Capital Management LLC Buys 7,555 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

GoodHaven Capital Management LLC lifted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 63.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,555 shares of the company’s stock after acquiring an additional 7,555 shares during the period. Asbury Automotive Group makes up 1.5% of GoodHaven Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. GoodHaven Capital Management LLC owned about 0.10% of Asbury Automotive Group worth $4,319,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new stake in Asbury Automotive Group during the fourth quarter valued at about $25,000. Versant Capital Management Inc raised its stake in shares of Asbury Automotive Group by 43.9% during the first quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock worth $36,000 after acquiring an additional 50 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after acquiring an additional 41 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after acquiring an additional 351 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock valued at $147,000 after purchasing an additional 443 shares in the last quarter.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG opened at $231.94 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $224.80 and a 200-day moving average price of $246.70. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 10.78 and a beta of 0.96. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.31 billion. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $7.21 EPS. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABG. Bank of America started coverage on shares of Asbury Automotive Group in a research report on Wednesday, May 28th. They issued a “buy” rating and a $325.00 target price on the stock. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Wall Street Zen raised Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Citigroup started coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $261.83.

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.