As Lam Research (LRCX) Stock Rose, Holder Pinnacle Associates LTD Trimmed Its Holding; Asbury Automotive Group (ABG) Market Value Rose While Moon Capital Management LP Lowered Holding by $2.05 Million

June 19, 2018 - By Richard Conner

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John W. Moon decreased its stake in Asbury Automotive Group Inc (ABG) by 38.5% based on its latest 2018Q1 regulatory filing with the SEC. Moon Capital Management Lp sold 30,615 shares as the company’s stock rose 0.94% while stock markets declined. The hedge fund run by John W. Moon held 48,907 shares of the automotive aftermarket company at the end of 2018Q1, valued at $3.30 million, down from 79,522 at the end of the previous reported quarter. Moon Capital Management Lp who had been investing in Asbury Automotive Group Inc for a number of months, seems to be less bullish one the $1.55 billion market cap company. The stock increased 1.08% or $0.8 during the last trading session, reaching $74.95. About 190,864 shares traded or 5.83% up from the average. Asbury Automotive Group, Inc. (NYSE:ABG) has risen 25.36% since June 19, 2017 and is uptrending. It has outperformed by 12.79% the S&P500. Some Historical ABG News: 24/04/2018 – ASBURY AUTOMOTIVE GROUP INC QTRLY NEW VEHICLE REVENUE $857.1 MLN VS $832.5 MLN; 10/04/2018 – Billboard: Asbury Lanes to Reopen This Summer With Lupe Fiasco, Black Lips & More; 15/03/2018 – ABRAMS CAPITAL MANAGEMENT – MAY TAKE CERTAIN ACTIONS, INCLUDING PROPOSING NOMINATION OF CANDIDATES FOR ASBURY AUTOMOTIVE’S BOARD, SOLICITING PROXIES; 24/04/2018 – Asbury Automotive 1Q Net $40.1M; 24/04/2018 – ASBURY AUTOMOTIVE GROUP INC QTRLY TOTAL REVENUE $1,609.2 MLN VS $1,551.7 MLN; 24/05/2018 – FACTBOX-Big U.S. auto dealers have significant import exposure; 24/04/2018 – Asbury Automotive 1Q Tax Rate 25% Vs. 36% Year-Ago; 15/03/2018 – ABRAMS CAPITAL MANAGEMENT LP REPORTS A 5.2 PCT STAKE IN ASBURY AUTOMOTIVE GROUP AS OF MARCH 14 – SEC FILING; 24/04/2018 – ASBURY AUTOMOTIVE GROUP INC QTRLY TOTAL USED VEHICLE REVENUE $484.6 MLN VS $461.8 MLN; 19/03/2018 – Fitch Affirms Asbury Communities’ (MD) Revs at ‘BBB’; Outlook Stable

Pinnacle Associates Ltd decreased its stake in Lam Research Corp (LRCX) by 4.2% based on its latest 2018Q1 regulatory filing with the SEC. Pinnacle Associates Ltd sold 29,826 shares as the company’s stock rose 1.81% while stock markets declined. The institutional investor held 681,033 shares of the industrial machinery and components company at the end of 2018Q1, valued at $138.36M, down from 710,859 at the end of the previous reported quarter. Pinnacle Associates Ltd who had been investing in Lam Research Corp for a number of months, seems to be less bullish one the $28.44B market cap company. The stock decreased 0.49% or $0.85 during the last trading session, reaching $173.35. About 2.73M shares traded. Lam Research Corporation (NASDAQ:LRCX) has risen 31.27% since June 19, 2017 and is uptrending. It has outperformed by 18.70% the S&P500.

Pinnacle Associates Ltd, which manages about $6.31B and $5.10B US Long portfolio, upped its stake in Liberty Media Corp Delaware by 34,568 shares to 69,444 shares, valued at $2.03 million in 2018Q1, according to the filing. It also increased its holding in Goldman Sachs Group Inc (NYSE:GS) by 6,785 shares in the quarter, for a total of 42,709 shares, and has risen its stake in Clorox Co Del (NYSE:CLX).

More notable recent Lam Research Corporation (NASDAQ:LRCX) news were published by: Seekingalpha.com which released: “Lam Research: Riding The Wave Of Semiconductor Luau” on May 24, 2018, also Nasdaq.com with their article: “Lam Research Corporation Stock Is Falling, But It’s a Knife I Can Confidently Catch!” published on June 07, 2018, Nasdaq.com published: “Consolidated Research: 2018 Summary Expectations for Antero Midstream Partners LP, Lam Research, TransUnion …” on June 18, 2018. More interesting news about Lam Research Corporation (NASDAQ:LRCX) were released by: Schaeffersresearch.com and their article: “RBC Slams Semiconductor Equipment Stocks With Downgrades” published on June 13, 2018 as well as Seekingalpha.com‘s news article titled: “Lam Research Is A Huge Buy” with publication date: June 13, 2018.

Investors sentiment increased to 1.1 in Q1 2018. Its up 0.02, from 1.08 in 2017Q4. It increased, as 62 investors sold LRCX shares while 259 reduced holdings. 131 funds opened positions while 223 raised stakes. 138.23 million shares or 1.88% less from 140.89 million shares in 2017Q4 were reported. Marlowe Prns LP holds 59,442 shares or 12.57% of its portfolio. Robeco Institutional Asset Mngmt Bv, a Netherlands-based fund reported 145,244 shares. Violich Mngmt holds 1,200 shares. Kbc Gru Nv owns 203,070 shares or 0.38% of their US portfolio. Apriem holds 2,610 shares or 0.13% of its portfolio. California-based First Foundation Advisors has invested 0.02% in Lam Research Corporation (NASDAQ:LRCX). Synovus Fincl Corporation holds 0.01% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 3,941 shares. Usa Fincl Portformulas holds 0.1% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 2,042 shares. Qs reported 0.03% in Lam Research Corporation (NASDAQ:LRCX). Fifth Third Bank accumulated 0.34% or 248,209 shares. Spectrum Gru holds 150 shares. Ssi Invest Management holds 0.04% or 2,276 shares. Liberty Mutual Group Inc Asset Mngmt invested in 0.04% or 6,475 shares. First Midwest Savings Bank Tru Division accumulated 15,192 shares. Alphamark Ltd Limited Liability Company reported 51 shares or 0% of all its holdings.

Among 27 analysts covering Lam Research Corporation (NASDAQ:LRCX), 25 have Buy rating, 0 Sell and 2 Hold. Therefore 93% are positive. Lam Research Corporation had 97 analyst reports since September 17, 2015 according to SRatingsIntel. Needham maintained the shares of LRCX in report on Thursday, October 20 with “Buy” rating. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Outperform” rating given on Thursday, December 10 by Cowen & Co. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by KeyBanc Capital Markets on Thursday, April 12. The firm has “Buy” rating given on Thursday, January 25 by Needham. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by UBS on Tuesday, June 13. The firm earned “Buy” rating on Sunday, June 10 by Bank of America. Needham maintained Lam Research Corporation (NASDAQ:LRCX) rating on Thursday, July 27. Needham has “Buy” rating and $20000 target. On Monday, May 16 the stock rating was maintained by Cowen & Co with “Outperform”. The company was downgraded on Thursday, August 11 by Nomura. RBC Capital Markets downgraded it to “Sector Perform” rating and $210 target in Wednesday, June 13 report.

Since January 23, 2018, it had 0 buys, and 12 sales for $28.53 million activity. On Friday, March 9 the insider ARCHER TIMOTHY sold $1.39M. O’Dowd Sarah A sold $390,194 worth of Lam Research Corporation (NASDAQ:LRCX) on Thursday, March 8. Shares for $5.47M were sold by Varadarajan Seshasayee on Tuesday, January 23. Anstice Martin B sold $5.12 million worth of Lam Research Corporation (NASDAQ:LRCX) on Tuesday, May 22. 16,866 shares were sold by Gottscho Richard A, worth $3.54 million.

Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on July, 25. They expect $5.00 earnings per share, up 60.77% or $1.89 from last year’s $3.11 per share. LRCX’s profit will be $820.22M for 8.67 P/E if the $5.00 EPS becomes a reality. After $4.79 actual earnings per share reported by Lam Research Corporation for the previous quarter, Wall Street now forecasts 4.38% EPS growth.

More news for Asbury Automotive Group, Inc. (NYSE:ABG) were recently published by: Globenewswire.com, which released: “Detailed Research: Economic Perspectives on Stein Mart, Asbury Automotive Group, Sprint, The Kraft Heinz, Allergan …” on June 14, 2018. Gurufocus.com‘s article titled: “5 Cheap Stocks Trading Below Peter Lynch Value” and published on June 18, 2018 is yet another important article.

Since February 7, 2018, it had 0 insider purchases, and 7 selling transactions for $4.54 million activity. JAMES JUANITA T sold $66,180 worth of Asbury Automotive Group, Inc. (NYSE:ABG) on Friday, March 2. MONAGHAN CRAIG T sold $1.96M worth of stock or 28,575 shares. 13,263 Asbury Automotive Group, Inc. (NYSE:ABG) shares with value of $973,239 were sold by Villasana George A. Another trade for 3,150 shares valued at $219,051 was made by Karolis George on Monday, March 12. DELOACH THOMAS C JR also sold $1.10 million worth of Asbury Automotive Group, Inc. (NYSE:ABG) shares. On Friday, March 9 REDDIN THOMAS sold $103,500 worth of Asbury Automotive Group, Inc. (NYSE:ABG) or 1,500 shares.

Among 8 analysts covering Asbury Automotive (NYSE:ABG), 3 have Buy rating, 1 Sell and 4 Hold. Therefore 38% are positive. Asbury Automotive had 26 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was downgraded by Bank of America on Wednesday, July 22 to “Underperform”. Buckingham Research maintained the stock with “Buy” rating in Wednesday, April 25 report. The stock has “Hold” rating by KeyBanc Capital Markets on Tuesday, October 3. The stock of Asbury Automotive Group, Inc. (NYSE:ABG) has “Buy” rating given on Thursday, October 22 by Bank of America. Stephens maintained Asbury Automotive Group, Inc. (NYSE:ABG) rating on Tuesday, February 6. Stephens has “Buy” rating and $81.0 target. The stock of Asbury Automotive Group, Inc. (NYSE:ABG) has “Hold” rating given on Monday, April 11 by Jefferies. On Friday, June 2 the stock rating was maintained by Jefferies with “Hold”. The stock of Asbury Automotive Group, Inc. (NYSE:ABG) has “Hold” rating given on Tuesday, January 12 by Craig Hallum. As per Tuesday, September 8, the company rating was upgraded by Craig Hallum. KeyBanc Capital Markets downgraded Asbury Automotive Group, Inc. (NYSE:ABG) on Wednesday, November 16 to “Sector Weight” rating.

Investors sentiment decreased to 1.14 in 2018 Q1. Its down 0.21, from 1.35 in 2017Q4. It turned negative, as 16 investors sold ABG shares while 53 reduced holdings. 27 funds opened positions while 52 raised stakes. 20.46 million shares or 4.99% less from 21.54 million shares in 2017Q4 were reported. Goldman Sachs Group holds 698,801 shares or 0.01% of its portfolio. 4,147 are owned by Teacher Retirement Of Texas. Mason Street Advsr Ltd Company accumulated 5,144 shares. Proshare Advsrs Limited Liability holds 2,979 shares or 0% of its portfolio. Pnc Ser Gru holds 0% or 1,063 shares in its portfolio. Eulav Asset Mgmt holds 10,300 shares. Grantham Mayo Van Otterloo And Ltd Liability stated it has 5,700 shares or 0% of all its holdings. Dimensional Fund LP has invested 0.02% in Asbury Automotive Group, Inc. (NYSE:ABG). California Pub Employees Retirement Systems accumulated 87,149 shares or 0.01% of the stock. Parallax Volatility Advisers LP holds 0% of its portfolio in Asbury Automotive Group, Inc. (NYSE:ABG) for 773 shares. Texas Permanent School Fund holds 0.01% or 12,276 shares. Morgan Stanley has 1.60 million shares for 0.03% of their portfolio. Schwab Charles Mngmt reported 219,423 shares. Jefferies Grp Ltd, a New York-based fund reported 4,706 shares. Millennium Management Ltd Limited Liability Company stated it has 0% in Asbury Automotive Group, Inc. (NYSE:ABG).

Moon Capital Management Lp, which manages about $2.17B and $206.97 million US Long portfolio, upped its stake in Hanesbrands Inc (NYSE:HBI) by 272,868 shares to 389,388 shares, valued at $7.17M in 2018Q1, according to the filing. It also increased its holding in Adient Plc by 101,671 shares in the quarter, for a total of 197,451 shares, and has risen its stake in Cannae Hldgs Inc.

Analysts await Asbury Automotive Group, Inc. (NYSE:ABG) to report earnings on July, 24. They expect $1.95 earnings per share, up 23.42% or $0.37 from last year’s $1.58 per share. ABG’s profit will be $40.22M for 9.61 P/E if the $1.95 EPS becomes a reality. After $1.93 actual earnings per share reported by Asbury Automotive Group, Inc. for the previous quarter, Wall Street now forecasts 1.04% EPS growth.

Lam Research Corporation (NASDAQ:LRCX) Institutional Positions Chart

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