Asbury Automotive Group Inc’s filing revealed that its 10% Owner Impactive Capital LP unloaded Company’s shares for reported $2.94 million on Aug 15 ’24. In the deal valued at $232.50 per share,12,647 shares were sold. As a result of this transaction, Impactive Capital LP now holds 1,996,002 shares worth roughly $451.62 million.
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Then, Impactive Capital LP sold 8,353 shares, generating $1,884,706 in total proceeds. Upon selling the shares at $225.63, the 10% Owner now owns 2,008,649 shares.
Before that, Hult David W sold 7,690 shares. Asbury Automotive Group Inc shares valued at $1,787,337 were divested by the President & CEO at a price of $232.42 per share. As a result of the transaction, Hult David W now holds 49,144 shares, worth roughly $11.12 million.
JP Morgan downgraded its Asbury Automotive Group Inc [ABG] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who decreased its forecast for the stock in early February from “a Buy” to “a Hold”. JP Morgan also remained covering ABG and has increased its forecast on October 31, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Morgan Stanley revised its rating on May 20, 2022. It rated ABG as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of ABG
On Tuesday, Asbury Automotive Group Inc [NYSE:ABG] saw its stock fall -1.64% to $226.26. Over the last five days, the stock has lost -1.56%. Asbury Automotive Group Inc shares have risen nearly 0.57% since the year began. Nevertheless, the stocks have risen 2.21% over the past one year. While a 52-week high of $277.13 was reached on 07/31/24, a 52-week low of $178.40 was recorded on 02/08/24. SMA at 50 days reached $236.73, while 200 days put it at $222.30.
Levels Of Support And Resistance For ABG Stock
The 24-hour chart illustrates a support level at 224.03, which if violated will result in even more drops to 221.80. On the upside, there is a resistance level at 229.43. A further resistance level may holdings at 232.60. The Relative Strength Index (RSI) on the 14-day chart is 42.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.64, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.32%. Stochastics%K at 15.79% indicates the stock is a buying.
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 2024-07-31, dropping by -0.11 million shares to a total of 1.86 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 1.97 million shares. There was a decline of -5.95%, which implies that there is a negative sentiment for the stock.
