November 23, 2016 - By Peter Erickson · 0 Comments
The stock of Asbury Automotive Group Incorporated (NYSE:ABG) registered an increase of 8.1% in short interest. ABG’s total short interest was 1.91M shares in November as published by FINRA. Its up 8.1% from 1.76 million shares, reported previously. With 285,500 shares average volume, it will take short sellers 7 days to cover their ABG’s short positions. The short interest to Asbury Automotive Group Incorporated’s float is 10.39%. The stock closed at $58.9 during the last session. It is down 3.19% since April 21, 2016 and is uptrending. It has underperformed by 2.14% the S&P500.
Asbury Automotive Group, Inc. is an automotive retailer in the United States. The company has a market cap of $1.31 billion. The Firm offers a range of automotive services and products, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance. It has a 9.75 P/E ratio. The Firm owns and operates approximately 100 new vehicle franchises, representing over 30 brands of automobiles at over 80 dealership locations, and over 20 collision centers in the United States.
Insitutional Activity: The institutional sentiment increased to 0.89 in Q2 2016. Its up 0.36, from 0.53 in 2016Q1. The ratio improved, as 31 funds sold all Asbury Automotive Group, Inc. shares owned while 74 reduced positions. 18 funds bought stakes while 38 increased positions. They now own 21.96 million shares or 5.83% less from 23.32 million shares in 2016Q1.
Pinebridge Ltd Partnership accumulated 0.01% or 2,810 shares. Retail Bank Of Montreal Can owns 507 shares or 0% of their US portfolio. State Board Of Administration Of Florida Retirement Sys last reported 12,833 shares in the company. Numeric Invsts Ltd Liability accumulated 9,100 shares or 0% of the stock. Old Mutual Customised Solutions (Proprietary) Limited accumulated 0.02% or 1,700 shares. Northern Trust last reported 0.01% of its portfolio in the stock. Verition Fund Ltd Liability has 10,467 shares for 0.07% of their US portfolio. Blackrock Institutional Na reported 647,169 shares or 0.01% of all its holdings. Blackrock Advsr Ltd holds 0% or 64,450 shares in its portfolio. State Teachers Retirement System has invested 0% of its portfolio in Asbury Automotive Group, Inc. (NYSE:ABG). First Quadrant L P Ca holds 12,100 shares or 0.01% of its portfolio. Teachers Retirement Sys Of The State Of Kentucky owns 11,000 shares or 0.01% of their US portfolio. Blackrock Japan Com has 0% invested in the company for 666 shares. Entrustpermal Mgmt Ltd Co last reported 7.68% of its portfolio in the stock. Menta Cap Ltd Liability Company reported 9,814 shares or 0.07% of all its holdings.
Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 4 sales for $1.11 million net activity. The insider Style Keith sold 5,000 shares worth $305,550. DELOACH THOMAS C JR sold $169,502 worth of stock or 2,953 shares. $30,440 worth of Asbury Automotive Group, Inc. (NYSE:ABG) was sold by Stax William Frederick. $603,600 worth of Asbury Automotive Group, Inc. (NYSE:ABG) shares were sold by Villasana George A.
Out of 7 analysts covering Asbury Automotive (NYSE:ABG), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. $100 is the highest target while $73 is the lowest. The $85.25 average target is 44.74% above today’s ($58.9) stock price. Asbury Automotive has been the topic of 13 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Buckingham Research upgraded Asbury Automotive Group, Inc. (NYSE:ABG) on Monday, August 31 to “Neutral” rating. On Wednesday, November 16 the stock rating was downgraded by KeyBanc Capital Markets to “Sector Weight”. Bank of America downgraded Asbury Automotive Group, Inc. (NYSE:ABG) on Wednesday, July 22 to “Underperform” rating. Jefferies initiated the shares of ABG in a report on Monday, April 11 with “Hold” rating. The rating was upgraded by Bank of America to “Buy” on Thursday, October 22. The stock of Asbury Automotive Group, Inc. (NYSE:ABG) has “Buy” rating given on Tuesday, February 23 by Buckingham Research. On Monday, October 26 the stock rating was downgraded by BB&T Capital to “Hold”. The company was upgraded on Wednesday, September 30 by Bank of America. Craig Hallum downgraded the stock to “Hold” rating in Tuesday, January 12 report. The firm has “Buy” rating given on Friday, August 28 by KeyBanc Capital Markets.
Asbury Automotive Group, Inc., incorporated on February 15, 2002, is an automotive retailer in the United States. The Firm offers a range of automotive services and products, including new vehicles; used vehicles; parts and service, and finance and insurance. The Firm owns and operates approximately 100 new vehicle franchises, representing over 30 brands of automobiles at over 80 dealership locations, and over 20 collision centers in the United States. The Company’s brand names included Nalley Automotive Group, Courtesy Autogroup, Coggin Automotive Group, Crown Automotive Company, David McDavid Auto Group, North Point Auto Group, Gray-Daniels Auto Family and Plaza Motor Company.
More notable recent Asbury Automotive Group, Inc. (NYSE:ABG) news were published by: Prnewswire.com which released: “Asbury Automotive Group Schedules Release of Third Quarter Financial Results” on October 07, 2016, also Prnewswire.com with their article: “Asbury Automotive Group Announces Second Quarter 2016 Earnings” published on July 26, 2016, Fool.com published: “Why Shares of Asbury Automotive Group, Inc. Fell 12% Today” on October 21, 2015. More interesting news about Asbury Automotive Group, Inc. (NYSE:ABG) were released by: Prnewswire.com and their article: “Asbury Automotive Group, Inc. Elects New Directors to Its Board” published on January 09, 2015 as well as Prnewswire.com‘s news article titled: “Asbury Automotive Group Expands Its Nalley Brand with New Nissan and Infiniti …” with publication date: September 22, 2015.
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By Peter Erickson