Salvus Wealth Management LLC Reduces Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Salvus Wealth Management LLC lessened its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,495 shares of the company’s stock after selling 44 shares during the period. Asbury Automotive Group comprises 2.1% of Salvus Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Salvus Wealth Management LLC owned approximately 0.07% of Asbury Automotive Group worth $3,280,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ABG. Harbor Capital Advisors Inc. acquired a new stake in shares of Asbury Automotive Group in the third quarter worth approximately $31,000. Quarry LP acquired a new stake in Asbury Automotive Group during the second quarter worth about $38,000. GAMMA Investing LLC increased its position in Asbury Automotive Group by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock worth $94,000 after purchasing an additional 101 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Asbury Automotive Group during the second quarter worth approximately $212,000. Finally, MML Investors Services LLC purchased a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $222,000.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $245.37 on Friday. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13. 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’s 50-day moving average price is $252.20 and its two-hundred day moving average price is $240.54. The stock has a market cap of $4.81 billion, a PE ratio of 13.89 and a beta of 1.19.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) 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 quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.12 EPS. As a group, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ABG. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Craig Hallum raised their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Bank of America lowered 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. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $256.20.

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.