SCHEDULE 13G/A: Neuberger Berman Group Amends Stake in Asbury Automotive, Reports 3.5% Beneficial Ownership
Beneficial Ownership Statement Amendment
Neuberger Berman Group LLC and its affiliate have filed an amended Schedule 13G, indicating a 3.5% beneficial ownership stake in Asbury Automotive Group Inc. as of April 30, 2025.
Summary
- Neuberger Berman Group LLC and Neuberger Berman Investment Advisers LLC filed an Amendment No. 7 to Schedule 13G regarding their beneficial ownership in Asbury Automotive Group Inc.
- As of April 30, 2025, Neuberger Berman Group LLC beneficially owns 682,476 shares of Common stock, representing 3.5% of the class.
- Neuberger Berman Investment Advisers LLC beneficially owns 681,924 shares, also representing 3.5% of the class.
- Both entities report 0 sole voting or dispositive power, and shared voting power of 669,929 shares (Neuberger Berman Group LLC) and 669,465 shares (Neuberger Berman Investment Advisers LLC).
- Shared dispositive power is 682,476 shares (Neuberger Berman Group LLC) and 681,924 shares (Neuberger Berman Investment Advisers LLC).
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 4
Explanation: The filing indicates a reduction in beneficial ownership by Neuberger Berman Group LLC and its affiliate to 3.5%, suggesting a decrease from a prior stake that would have been above 5%. While not a direct reflection of the company's operational performance, a reduction in a significant institutional investor's stake can be viewed as a mildly negative signal regarding investor confidence or portfolio rebalancing.
Negatives
- The filing indicates a reduction in beneficial ownership by Neuberger Berman Group LLC and its affiliate to 3.5%, suggesting a decrease from a prior stake that would have been above 5% to trigger the initial Schedule 13G filing. This reduction in stake by a significant institutional investor could be perceived negatively.
Future Outlook
No future outlook or guidance from Asbury Automotive Group Inc. is provided in this beneficial ownership filing.
Industry Context
This filing is specific to an institutional investor's stake in Asbury Automotive Group Inc. and does not provide broader industry context or trends for the automotive retail sector.
Stakeholder Impact
- Shareholders may note the reduction in stake by a significant institutional investor, which could influence perceptions of institutional confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 04/30/2025 | Date of event which requires filing of this statement (beneficial ownership change). |
| 05/05/2025 | Date of filing of this Schedule 13G Amendment No. 7. |
Keywords
Asbury Automotive Group, Neuberger Berman, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Investment Advisers, Institutional Investor
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.