Asbury Automotive Group Inc.’s recent filing unveils that its SVP, CLO & Secretary Villasana George A unloaded Company’s shares for reported $0.67 million on Mar 09. In the deal valued at $235.60 per share,2,828 shares were sold. As a result of this transaction, Villasana George A now holds 4,290 shares worth roughly $ 1.0 million.
Then, Maric Miran sold 489 shares, generating $115,120 in total proceeds. Upon selling the shares at $235.42, the SVP, Strategy & Innovation now owns 3,541 shares.
Before that, Villasana George A sold 2,202 shares. Asbury Automotive Group Inc. shares valued at $524,098 were divested by the SVP, CLO & Secretary at a price of $238.01 per share. As a result of the transaction, Villasana George A now holds 7,118 shares, worth roughly $1.66 million.
Morgan Stanley downgraded its Asbury Automotive Group Inc. [ABG] rating to an Underweight from a an Equal-weight in a research note published on Friday.
Price Performance Review of ABG
On Friday, Asbury Automotive Group Inc. [NYSE:ABG] saw its stock jump 1.51% to $233.48. On the same session, the stock had its day’s lowest price of $231.7601, but rose to a high of $234.10. Over the last five days, the stock has gained 6.76%. Asbury Automotive Group Inc. shares have risen nearly 30.25% since the year began. Nevertheless, the stocks have risen 33.81% over the past one year. While a 52-week high of $256.39 was reached on 07/11/23, a 52-week low of $138.88 was recorded on 01/03/23. SMA at 50 days reached $230.63, while 200 days put it at $209.66. A total of 0.11 million shares were traded, compared to the trading of 0.17 million shares in the previous session.
Levels Of Support And Resistance For ABG Stock
The 24-hour chart illustrates a support level at 232.13, which if violated will result in even more drops to 230.77. On the upside, there is a resistance level at 234.47. A further resistance level may holdings at 235.45. The Relative Strength Index (RSI) on the 14-day chart is 60.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.99, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.16%. Stochastics %K at 94.71% indicates the stock is a selling.
How much short interest is there in Asbury Automotive Group Inc.?
A steep rise in short interest was recorded in Asbury Automotive Group Inc. stocks on Aug 14, 2023, growing by 40000.0 shares to a total of 2.14 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.1 million shares. There was a rise of 1.87%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 17.44% of the overall stock float, the days-to-cover ratio (short ratio) rose to 12.37.
According to FactSet, Asbury Automotive Group Inc.’s share price will average $257.14 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.39 percent from its previous closing price of $230.00. Analysts expect Asbury Automotive Group Inc. stock to reach the higher price of $340.00, while the lowest price estimate is $165.00. However, 9 analysts have rated ABG stock as an Overweight in their predictions for 2023.