Asbury Automotive Boosts Share Buyback By $108M

by Shivani Kumaresan, Benzinga Staff Writer

January 27, 2023 6:24 AM | 1 min read |

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.