Goodnow Investment Group buys $17,679,690 stake in Asbury Automotive Group (ABG)

Asbury Automotive Group (ABG) : Goodnow Investment Group scooped up 173,920 additional shares in Asbury Automotive Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 316,500 shares of Asbury Automotive Group which is valued at $17,679,690.Asbury Automotive Group makes up approximately 3.87% of Goodnow Investment Group’s portfolio.

Other Hedge Funds, Including , Amici Capital sold out all of its stake in ABG during the most recent quarter. The investment firm sold 46,291 shares of ABG which is valued $2,585,815.Menta Capital boosted its stake in ABG in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 9,814 shares of Asbury Automotive Group which is valued at $548,210. Asbury Automotive Group makes up approx 0.07% of Menta Capital’s portfolio.Aperio Group boosted its stake in ABG in the latest quarter, The investment management firm added 680 additional shares and now holds a total of 5,744 shares of Asbury Automotive Group which is valued at $320,860. Peak6 Investments added ABG to its portfolio by purchasing 2,361 company shares during the most recent quarter which is valued at $131,885. Asbury Automotive Group makes up approx 0.01% of Peak6 Investments’s portfolio.Louisiana State Employees Retirement System reduced its stake in ABG by selling 1,200 shares or 10.91% in the most recent quarter. The Hedge Fund company now holds 9,800 shares of ABG which is valued at $588,588. Asbury Automotive Group makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.

Asbury Automotive Group opened for trading at $53.7 and hit $54.99 on the upside on Thursday, eventually ending the session at $54.27, with a gain of 1.02% or 0.55 points. The heightened volatility saw the trading volume jump to 2,40,222 shares. Company has a market cap of $1,203 M.

On the company’s financial health, Asbury Automotive Group reported $1.65 EPS for the quarter, based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus estimate of $1.65. The company had revenue of $1627.40 million for the quarter, compared to analysts expectations of $1709.08 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.52 EPS.

Asbury Automotive Group Inc. (Asbury) is an automotive retailer in the United States. The Company offers a range of automotive products and services including new and used vehicles vehicle maintenance replacement parts and collision repair services new and used vehicle financing and aftermarket products including insurance warranty and service contracts. The Company’s brand names include Nalley Automotive Group Courtesy Autogroup Coggin Automotive Group Crown Automotive Company David McDavid Auto Group Gray-Daniels Auto Family and Plaza Motor Company among others. The Company’s new vehicle sales consist of the sale of new vehicles to individual retail customers and the sale of new vehicles to commercial customers. It’s used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. It provides vehicle maintenance and repair services in the markets of its franchised dealerships.

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