Evolve Private Wealth LLC Makes New $3.60 Million Investment in AutoNation, Inc. $AN

Evolve Private Wealth LLC bought a new position in AutoNation, Inc. (NYSE:AN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,380 shares of the company’s stock, valued at approximately $3,601,000. Evolve Private Wealth LLC owned about 0.06% of AutoNation at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AN. Brandywine Global Investment Management LLC lifted its stake in shares of AutoNation by 27.1% in the 4th quarter. Brandywine Global Investment Management LLC now owns 57,269 shares of the company’s stock valued at $11,825,000 after purchasing an additional 12,210 shares during the period. WINTON GROUP Ltd purchased a new stake in AutoNation in the fourth quarter worth $6,443,000. Intech Investment Management LLC grew its stake in AutoNation by 180.1% in the fourth quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $2,727,000 after purchasing an additional 8,491 shares during the period. Leonteq Securities AG bought a new position in AutoNation in the fourth quarter worth $2,247,000. Finally, Janney Montgomery Scott LLC raised its holdings in AutoNation by 40.7% in the first quarter. Janney Montgomery Scott LLC now owns 39,914 shares of the company’s stock worth $7,794,000 after purchasing an additional 11,536 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Insiders Place Their Bets

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the sale, the director owned 7,989 shares of the company’s stock, valued at $1,757,580. The trade was a 10.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

AutoNation Stock Down 0.6%

AN opened at $198.86 on Friday. The firm has a 50-day simple moving average of $200.60 and a two-hundred day simple moving average of $197.84. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81. The company has a market capitalization of $6.57 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.83 and a beta of 0.71. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN) last issued its earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $0.08. The firm had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. Analysts forecast that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AN has been the subject of a number of analyst reports. Northcoast Research raised AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price objective for the company in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their target price on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Stephens increased their target price on AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. reduced their price target on AutoNation from $235.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Finally, Morgan Stanley lifted their price target on AutoNation from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $250.00.

AutoNation Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.