Asbury Automotive Boosts Share Buyback By $108M

  • Asbury Automotive Group Inc ABG said its board of directors increased common stock repurchase authorization by $108 million. 
  • With the increase, the stock repurchase authorization totals $200 million.
  • For the full year 2022, the company repurchased approximately 1.6 million shares of its common stock for $287 million. 
  • Year-to-date 2023, the company also repurchased about 115,000 shares for $20 million.
  • Asbury held $141.3 million in cash and equivalents as of Sept. 30, 2022.
  • Price Action: ABG shares closed higher by 3.61% at $200.63 on Thursday.
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