Sun Sep 15 11:52:52 UTC 2024: ## Asbury Automotive Group Sees Mixed Signals from Investors and Analysts
**New York, NY – September 15, 2024** – Asbury Automotive Group, Inc. (NYSE: ABG) continues to attract investor interest, with several hedge funds making changes to their positions in the company during recent quarters.
Headlands Technologies LLC entered a new position in the second quarter, acquiring 834 shares valued at approximately $190,000. Other notable changes include increases in holdings by Arizona State Retirement System, Janus Henderson Group PLC, Illinois Municipal Retirement Fund, and SummerHaven Investment Management LLC. Vanguard Personalized Indexing Management LLC also boosted its stake in the company.
Despite this investor interest, Asbury Automotive Group has also faced some headwinds. StockNews.com downgraded the company from a “hold” to a “sell” rating in August, citing concerns about its future performance. Meanwhile, Morgan Stanley raised its price target but maintained an “underweight” rating, suggesting cautious optimism.
Other analysts offer a more positive outlook, with Stephens initiating coverage with an “equal weight” rating and a $216.00 price target. JPMorgan Chase & Co. also raised its price target, assigning a “neutral” rating to the company.
Overall, the stock currently has an average rating of “Hold” and an average target price of $225.25, based on data from MarketBeat.com.
Asbury Automotive Group reported mixed results in its most recent quarterly earnings. While revenue grew 17.3% year-over-year, the company missed analysts’ estimates for earnings per share.
In insider trading news, CEO David W. Hult sold 500 shares of the company’s stock in August, while major shareholder Impactive Capital Lp sold 8,353 shares during the same period.
Asbury Automotive Group operates as a leading automotive retailer in the United States, offering a wide range of products and services, including new and used vehicles, vehicle repair and maintenance services, and collision repair.
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