BlackRock Amends Asbury Auto Stake to 14.9% as of Dec 31, 2023
Ticker: ABG · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 1144980
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment, auto-dealers
TL;DR
**BlackRock still a major player in Asbury Auto, holding 14.9% as of year-end!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership in Asbury Automotive Group Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 3,007,816 shares of Asbury Automotive's Common Stock, representing 14.9% of the company. This is an amendment (Amendment No. 4) to their previous filings, indicating a change in their holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their stake can signal their confidence (or lack thereof) in the company's future performance, potentially influencing other investors.
Why It Matters
BlackRock's significant 14.9% stake in Asbury Automotive Group Inc. means they have a substantial voice, and their investment decisions can influence market perception and the stock's price.
Risk Assessment
Risk Level: low — This filing indicates a large institutional investor's position, which generally adds stability rather than risk.
Analyst Insight
An investor should note BlackRock's continued significant, passive stake in Asbury Automotive Group Inc., which suggests a long-term, stable institutional presence. While not an active buy signal, it indicates a major player sees value in holding the stock. Monitor future 13G/A filings for any substantial changes in BlackRock's percentage ownership, which could signal a shift in their investment thesis.
Key Numbers
- 3,007,816 — Shares Beneficially Owned (This is the total number of Asbury Automotive Group Inc. common shares BlackRock Inc. reported owning as of December 31, 2023.)
- 14.9% — Percentage of Class Owned (This represents BlackRock Inc.'s significant ownership stake in Asbury Automotive Group Inc., indicating a major institutional position.)
- December 31, 2023 — Reporting Date (This is the specific date for which the ownership data is reported, providing a clear snapshot of BlackRock's holdings at year-end.)
- Amendment No. 4 — Filing Amendment Number (This indicates that BlackRock has previously filed three other amendments to their initial SC 13G, suggesting ongoing adjustments to their stake.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Asbury Automotive Group Inc. (company) — the subject company in which BlackRock holds shares
- 3,007,816 (dollar_amount) — number of shares beneficially owned by BlackRock
- 14.9% (dollar_amount) — percentage of class beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant, but potentially fluctuating, stake in Asbury Automotive Group Inc. (BlackRock Inc.) — medium confidence, target: December 31, 2024
- Asbury Automotive Group Inc.'s stock price will likely remain stable or see minor fluctuations due to BlackRock's continued large, passive investment. (Asbury Automotive Group Inc.) — medium confidence, target: June 30, 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G filing, used by institutional investors like BlackRock Inc. to report beneficial ownership of 5% or more of a company's stock, typically for passive investment purposes. This specific filing (Amendment No. 4) updates their previously reported stake in Asbury Automotive Group Inc. as of December 31, 2023.
Who is the reporting person in this filing and what is their reported stake?
The reporting person is BlackRock Inc. As of December 31, 2023, they reported beneficial ownership of 3,007,816 shares of Common Stock in Asbury Automotive Group Inc., which represents 14.9% of the class of securities.
What is the CUSIP number for Asbury Automotive Group Inc. mentioned in the filing?
The CUSIP number for Asbury Automotive Group Inc. is 043436104, as stated on the cover page of the SC 13G/A filing.
When was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
What rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?
This Schedule 13G/A is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding ASBURY AUTOMOTIVE GROUP INC (ABG).