Sanders Morris Harris LLC purchased a new stake in AutoNation, Inc. (NYSE:AN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the company’s stock, valued at approximately $265,000.
Other large investors also recently added to or reduced their stakes in the company. Copper Rock Capital Partners LLC purchased a new stake in AutoNation in the 2nd quarter worth about $612,504,000. Eminence Capital LP acquired a new stake in shares of AutoNation during the first quarter worth $24,487,000. AQR Capital Management LLC grew its stake in shares of AutoNation by 43.8% during the first quarter. AQR Capital Management LLC now owns 1,079,869 shares of the company’s stock worth $30,301,000 after purchasing an additional 328,734 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of AutoNation during the second quarter worth $6,914,000. Finally, AXA grew its stake in shares of AutoNation by 348.9% during the first quarter. AXA now owns 234,800 shares of the company’s stock worth $6,588,000 after purchasing an additional 182,500 shares during the period. Institutional investors and hedge funds own 83.06% of the company’s stock.
In other AutoNation news, CEO Michael J. Jackson sold 90,819 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $54.97, for a total value of $4,992,320.43. Following the sale, the chief executive officer now owns 282,753 shares in the company, valued at $15,542,932.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Marc G. Cannon sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.25, for a total value of $532,500.00. Following the completion of the sale, the executive vice president now owns 18,460 shares in the company, valued at approximately $982,995. The disclosure for this sale can be found here. Insiders sold 138,429 shares of company stock worth $7,615,150 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.
AN traded down $0.77 on Friday, hitting $62.25. 907,214 shares of the company were exchanged, compared to its average volume of 898,199. AutoNation, Inc. has a 12 month low of $20.59 and a 12 month high of $63.46. The company has a market cap of $5.43 billion, a PE ratio of 18.10, a PEG ratio of 1.43 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.92. The stock’s fifty day moving average is $56.34 and its 200-day moving average is $45.05.
AutoNation (NYSE:AN) last released its earnings results on Thursday, July 23rd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $1.04. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.09 billion. AutoNation had a return on equity of 14.20% and a net margin of 1.51%. AutoNation’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. As a group, equities research analysts expect that AutoNation, Inc. will post 5.5 EPS for the current fiscal year.
AN has been the subject of a number of research analyst reports. Northcoast Research cut AutoNation from a “buy” rating to a “neutral” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $53.00 to $70.00 in a research note on Friday, July 24th. TheStreet raised AutoNation from a “c” rating to a “b-” rating in a research note on Thursday, July 23rd. ValuEngine raised AutoNation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, SunTrust Banks boosted their target price on AutoNation from $42.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $59.29.
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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