Ricky Sandler’s Eminence Capital Acquired Stake in Asbury Automotive Group Inc

February 14, 2018 - By Clifton Ray

 Ricky Sandler's Eminence Capital Acquired Stake in Asbury Automotive Group Inc

Investors sentiment decreased to 0.91 in Q3 2017. Its down 0.12, from 1.03 in 2017Q2. It worsened, as 18 investors sold Asbury Automotive Group, Inc. shares while 52 reduced holdings. 19 funds opened positions while 45 raised stakes. 20.68 million shares or 2.75% less from 21.26 million shares in 2017Q2 were reported.

6,367 were reported by Aperio Grp Limited Liability. Legal & General Group Public Ltd Liability holds 54,203 shares or 0% of its portfolio. Sei Investments Co reported 0.02% of its portfolio in Asbury Automotive Group, Inc. (NYSE:ABG). Riverhead Mngmt Ltd Liability Co stated it has 0% of its portfolio in Asbury Automotive Group, Inc. (NYSE:ABG). Price T Rowe Associates Md holds 12,293 shares or 0% of its portfolio. Victory Mgmt Inc reported 0% stake. First Quadrant Lp Ca invested in 0.01% or 12,100 shares. Hutchin Hill Capital Limited Partnership accumulated 9,700 shares. 4,016 are owned by Koch. The Massachusetts-based Polaris Capital Management Llc has invested 0.12% in Asbury Automotive Group, Inc. (NYSE:ABG). Numeric Invsts Ltd Liability Corporation reported 127,100 shares. Voya Inv Mgmt Lc holds 0% in Asbury Automotive Group, Inc. (NYSE:ABG) or 9,492 shares. Macquarie Limited reported 414,366 shares. Vanguard Gru Incorporated reported 1.76M shares stake. Msd Capital Lp has invested 48.82% in Asbury Automotive Group, Inc. (NYSE:ABG).

Since August 14, 2017, it had 0 buys, and 3 selling transactions for $5.20 million activity. The insider MONAGHAN CRAIG T sold 48,288 shares worth $2.94 million. The insider ALSFINE JOEL sold $5.38 million. On Monday, August 14 MSD CAPITAL L P sold $5.38 million worth of Asbury Automotive Group, Inc. (NYSE:ABG) or 104,949 shares.

The New Ricky Sandler’s Eminence Capital Holding in Asbury Automotive Group Inc

Eminence Capital reported SC 13G/A form with the SEC for Asbury Automotive Group Inc. Access it here: 000090266418001026. As reported by Ricky Sandler’s Eminence Capital, the filler owns 9.4% or 1,954,259 shares of the Consumer Discretionary–company.

Asbury Automotive Group Inc stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Ricky Sandler’s Eminence Capital’s positive view for Asbury Automotive Group Inc. For a hedge fund managing $10.55 billion in assets and having 41+ experts this is interesting position.

The hedge fund is investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Ricky Sandler’s Eminence Capital’s portfolio is in the sector.

Asbury Automotive Group Inc Institutional Sentiment

Filings show 181 investors own Asbury Automotive Group Inc. The ownership in Q3 2015 is high, at Infinity of the outstanding shares. This is increased by 8232002. 34798713 were owned by these investors. 30 funds opened new Asbury Automotive Group Inc stakes, 62 increased positions. There were 27 that closed positions and 76 reduced them.

5 investors had the stock in their top 10. Some are: Msd Capital L P..

Claus Moller P2 Capital Partners Llc is an investor bullish on Asbury Automotive Group Inc, owning 428315 shares as of Q3 2015 for 6.73% of its portfolio. Ranger Investment Management Lp owns 643885 shares or 2.94% of its portfolio. NY Lioneye Capital Management Llc have 8.68% of its portfolio for 2579262 shares. Further, Vollero Beach Capital Partners Llc reported stake worth 3.87% of its portfolio. The NY Msd Capital L P owns 2225596 shares. Asbury Automotive Group Inc is 24.08% of its portfolio.

Business Profile

Asbury Automotive Group, Inc. is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida. Its stores offer automotive products and services, including new and used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance. Its new vehicle revenues include new vehicle sales and lease transactions arranged by dealerships with third-party financial institutions.

SEC Form 13G.

Ricky Sandler’s Eminence Capital website.

The stock decreased 1.81% or $1.25 during the last trading session, reaching $67.9. About 108,698 shares traded. Asbury Automotive Group, Inc. (NYSE:ABG) has risen 7.55% since February 14, 2017 and is uptrending. It has underperformed by 9.15% the S&P500.

Asbury Automotive Group, Inc. operates as an automotive retailer in the United States. The company has market cap of $1.41 billion. It offers a range of automotive services and products, including new and used vehicles; and vehicle repair and maintenance, replacement parts, and collision repair services. It has a 10.26 P/E ratio. The firm also provides finance and insurance products, 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.

Asbury Automotive Group, Inc. (NYSE:ABG) Ratings Coverage

Among 8 analysts covering Asbury Automotive (NYSE:ABG), 3 have Buy rating, 1 Sell and 4 Hold. Therefore 38% are positive. Asbury Automotive has $100 highest and $5500 lowest target. $80.43’s average target is 18.45% above currents $67.9 stock price. Asbury Automotive had 24 analyst reports since July 22, 2015 according to SRatingsIntel. Jefferies initiated the stock with “Hold” rating in Monday, April 11 report. The rating was maintained by KeyBanc Capital Markets on Monday, November 13 with “Hold”. KeyBanc Capital Markets maintained Asbury Automotive Group, Inc. (NYSE:ABG) on Friday, August 28 with “Buy” rating. The stock of Asbury Automotive Group, Inc. (NYSE:ABG) earned “Buy” rating by Stephens on Tuesday, February 6. The stock of Asbury Automotive Group, Inc. (NYSE:ABG) has “Neutral” rating given on Wednesday, September 30 by Bank of America. The firm has “Hold” rating by KeyBanc Capital Markets given on Tuesday, October 3. The firm earned “Hold” rating on Wednesday, February 7 by Craig Hallum. Bank of America downgraded the stock to “Underperform” rating in Wednesday, July 22 report. Bank of America upgraded the shares of ABG in report on Thursday, October 22 to “Buy” rating. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Wednesday, November 16.

More notable recent Asbury Automotive Group, Inc. (NYSE:ABG) news were published by: Reuters.com which released: “BRIEF-Asbury Automotive Group Inc announces CEO succession plan” on August 22, 2017, also Seekingalpha.com with their article: “Asbury Automotive Group (ABG) Q4 2017 Results – Earnings Call Transcript” published on February 07, 2018, Seekingalpha.com published: “Auto dealer stocks cool off after hot streak” on February 13, 2018. More interesting news about Asbury Automotive Group, Inc. (NYSE:ABG) were released by: Prnewswire.com and their article: “Asbury Automotive Group, Inc. Announces CEO Succession Plan” published on August 22, 2017 as well as Seekingalpha.com‘s news article titled: “Asbury Automotive Group’s (ABG) CEO Craig Monaghan on Q2 2017 Results …” with publication date: July 25, 2017.

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