Asbury Automotive Group, Inc. (NYSE:ABG) Short Interest Update

Asbury Automotive Group, Inc. (NYSE:ABG) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 2,370,000 shares, an increase of 12.9% from the September 15th total of 2,100,000 shares. Based on an average trading volume of 203,800 shares, the days-to-cover ratio is currently 11.6 days.

Asbury Automotive Group Price Performance

ABG stock traded up $9.16 during mid-day trading on Wednesday, reaching $234.99. The company’s stock had a trading volume of 115,602 shares, compared to its average volume of 181,510. The company has a current ratio of 1.25, a quick ratio of 0.45 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $229.85 and its two-hundred day moving average is $231.06. Asbury Automotive Group has a fifty-two week low of $178.40 and a fifty-two week high of $277.13. The stock has a market cap of $4.74 billion, a PE ratio of 8.23 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. During the same period in the prior year, the business posted $8.95 EPS. Asbury Automotive Group’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts expect that Asbury Automotive Group will post 26.01 EPS for the current year.

Wall Street Analysts Forecast Growth

ABG has been the topic of several recent research reports. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Bank of America decreased their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Stephens initiated coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $251.20.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the sale, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David W. Hult sold 500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds and other institutional investors have recently bought and sold shares of ABG. Quarry LP purchased a new stake in Asbury Automotive Group in the second quarter valued at $38,000. GAMMA Investing LLC lifted its position in Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Asbury Automotive Group during the second quarter worth about $155,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Asbury Automotive Group during the fourth quarter valued at about $162,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Asbury Automotive Group in the 2nd quarter valued at approximately $190,000.

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.