Magnolia Group LLC Has $36.24 Million Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Magnolia Group LLC raised its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 149,123 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Asbury Automotive Group comprises about 6.2% of Magnolia Group LLC’s investment portfolio, making the stock its 5th largest position. Magnolia Group LLC’s holdings in Asbury Automotive Group were worth $36,241,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. SkyView Investment Advisors LLC raised its stake in shares of Asbury Automotive Group by 2.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company’s stock worth $506,000 after purchasing an additional 50 shares in the last quarter. HighTower Advisors LLC increased its position in Asbury Automotive Group by 3.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock worth $409,000 after buying an additional 53 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of Asbury Automotive Group by 3.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock worth $440,000 after purchasing an additional 57 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Asbury Automotive Group by 2.3% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,023 shares of the company’s stock worth $978,000 after purchasing an additional 92 shares in the last quarter. Finally, Evergreen Private Wealth LLC grew its holdings in shares of Asbury Automotive Group by 0.7% during the 4th quarter. Evergreen Private Wealth LLC now owns 16,624 shares of the company’s stock worth $4,040,000 after purchasing an additional 119 shares in the last quarter.

Insider Buying and Selling at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Trading Down 1.6 %

Shares of ABG stock opened at $243.00 on Thursday. The stock has a market capitalization of $4.77 billion, a PE ratio of 11.30 and a beta of 1.22. Asbury Automotive Group, Inc. has a 1-year low of $202.98 and a 1-year high of $312.56. The business has a 50-day moving average of $268.64 and a 200 day moving average of $250.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Wall Street Analyst Weigh In

ABG has been the topic of several research analyst reports. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $264.00.

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.