Brandywine Global Investment Management LLC Sells 2,818 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Brandywine Global Investment Management LLC reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 68,171 shares of the company’s stock after selling 2,818 shares during the period. Brandywine Global Investment Management LLC’s holdings in Asbury Automotive Group were worth $16,568,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its stake in shares of Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after purchasing an additional 41 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 buying an additional 351 shares during the period. KBC Group NV grew its stake in Asbury Automotive Group by 52.3% in the 4th quarter. KBC Group NV now owns 769 shares of the company’s stock valued at $187,000 after buying an additional 264 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Asbury Automotive Group by 17.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock valued at $204,000 after acquiring an additional 123 shares during the period. Finally, Stephens Inc. AR purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth $213,000.

Analyst Upgrades and Downgrades

ABG has been the subject of several recent research reports. Stephens lifted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Asbury Automotive Group presently has an average rating of “Hold” and an average price target of $263.00.

Insider Activity

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 shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $217.75 on Monday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 10.12 and a beta of 1.22. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The business has a 50-day simple moving average of $266.44 and a 200 day simple moving average of $250.55. Asbury Automotive Group, Inc. has a 52 week low of $206.62 and a 52 week high of $312.56.

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.