BlackRock Inc. lowered its position in shares of AutoNation, Inc. (NYSE:AN) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,188,299 shares of the company’s stock after selling 554,336 shares during the period. BlackRock Inc. owned about 5.77% of AutoNation worth $252,048,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Mutual of America Capital Management LLC grew its holdings in shares of AutoNation by 2.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 50,544 shares of the company’s stock worth $2,455,000 after acquiring an additional 1,233 shares during the period. Poehling Capital Management LLC grew its holdings in shares of AutoNation by 10.3% during the 2nd quarter. Poehling Capital Management LLC now owns 41,850 shares of the company’s stock worth $2,033,000 after acquiring an additional 3,920 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of AutoNation by 3.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 284,021 shares of the company’s stock worth $13,798,000 after acquiring an additional 10,156 shares during the period. LSV Asset Management grew its holdings in shares of AutoNation by 33.8% during the 2nd quarter. LSV Asset Management now owns 161,857 shares of the company’s stock worth $7,863,000 after acquiring an additional 40,857 shares during the period. Finally, CIBC World Markets Inc. grew its holdings in shares of AutoNation by 56.1% during the 2nd quarter. CIBC World Markets Inc. now owns 10,787 shares of the company’s stock worth $524,000 after acquiring an additional 3,876 shares during the period. 65.96% of the stock is owned by hedge funds and other institutional investors.
AN has been the topic of a number of research analyst reports. TheStreet downgraded AutoNation from a “b-” rating to a “c+” rating in a report on Tuesday, September 25th. SunTrust Banks started coverage on AutoNation in a research note on Friday, August 24th. They issued a “hold” rating and a $48.00 price target on the stock. Buckingham Research cut their price target on AutoNation from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. ValuEngine downgraded AutoNation from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, Wolfe Research started coverage on AutoNation in a research note on Tuesday, October 2nd. They issued an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.43.
In related news, CEO Michael J. Jackson sold 37,104 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $46.60, for a total value of $1,729,046.40. Following the transaction, the chief executive officer now directly owns 168,205 shares of the company’s stock, valued at approximately $7,838,353. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rick L. Burdick sold 4,808 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.00, for a total value of $225,976.00. Following the completion of the transaction, the director now directly owns 38,686 shares in the company, valued at $1,818,242. The disclosure for this sale can be found here. Insiders sold a total of 43,455 shares of company stock worth $2,028,929 over the last ninety days. 2.80% of the stock is currently owned by insiders.
Shares of AutoNation stock traded down $0.98 during midday trading on Friday, hitting $38.06. The company had a trading volume of 1,268,482 shares, compared to its average volume of 877,428. The company has a quick ratio of 0.20, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.73 billion, a P/E ratio of 9.99, a PEG ratio of 1.31 and a beta of 1.26. AutoNation, Inc. has a 52-week low of $37.64 and a 52-week high of $62.02.
AutoNation (NYSE:AN) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.01. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.42 billion. AutoNation had a return on equity of 16.64% and a net margin of 2.02%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, equities analysts expect that AutoNation, Inc. will post 4.7 EPS for the current year.
AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.
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