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Abrams capital buys Asbury Automotive (ABG) shares worth $10.6 million

Published 01/08/2025, 20:08
Abrams capital buys Asbury Automotive (ABG) shares worth $10.6 million
ABG
-0.76%

Abrams Capital, a ten-percent owner of Asbury Automotive Group Inc (NYSE:ABG), acquired 46,952 shares of common stock on July 30, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were purchased at a weighted average price of $225.1597, in a range of $224.99455 to $225.435, totaling $10,571,698. Track insider transactions and get comprehensive analysis with InvestingPro, which offers detailed insider trading patterns and institutional ownership trends.

Following the transaction, Abrams Capital’s total holdings in Asbury Automotive Group amounted to 2,162,992 shares.

The filing was signed by Abrams Capital Management, L.P., by Abrams Capital Management, LLC, the General Partner, by David C. Abrams, Managing Member; Abrams Capital Partners (WA:CPAP) II, L.P., by Abrams Capital, LLC, the General Partner, by David C. Abrams, Managing Member; Abrams Capital Management, LLC, by David C. Abrams, Managing Member; David C. Abrams and Abrams Capital, LLC, by David C. Abrams, Managing Member.

In other recent news, Asbury Automotive Group reported its Q2 2025 earnings, surpassing earnings per share (EPS) expectations with a reported $7.43 against a forecast of $6.83, marking an 8.8% surprise. However, the company’s revenue fell short of forecasts, coming in at $4.37 billion compared to an anticipated $4.45 billion. In related developments, CFRA has adjusted its price target for Asbury Automotive Group, lowering it to $225.00 from $300.00 while maintaining a Hold rating on the stock. The research firm also revised its adjusted EPS estimates, reducing them to $27.25 from $29.10 for 2025 and to $28.00 from $31.35 for 2026. CFRA cited concerns about operational execution at the automotive retailer as the reason for these adjustments. These recent developments provide investors with insights into the company’s performance and future expectations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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