AutoNation, Inc. (NYSE:AN) Major Shareholder Edward S. Lampert Sells 53,562 Shares

AutoNation, Inc. (NYSE:AN) major shareholder Edward S. Lampert sold 53,562 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total value of $10,361,568.90. Following the sale, the insider now directly owns 3,825,838 shares in the company, valued at $740,108,361.10. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

AutoNation Trading Down 7.2 %

AN stock opened at $170.74 on Monday. AutoNation, Inc. has a 12 month low of $123.81 and a 12 month high of $197.18. The firm’s 50-day moving average is $168.00 and its 200 day moving average is $159.26. The company has a market capitalization of $6.88 billion, a PE ratio of 8.10, a P/E/G ratio of 3.61 and a beta of 1.21. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23.

AutoNation (NYSE:AN) last issued its earnings results on Wednesday, July 31st. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.32). The company had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $6.72 billion. AutoNation had a return on equity of 36.28% and a net margin of 2.93%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business posted $6.29 earnings per share. On average, research analysts anticipate that AutoNation, Inc. will post 17.88 EPS for the current year.

AutoNation declared that its board has initiated a share repurchase program on Friday, April 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 14.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On AutoNation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First United Bank & Trust purchased a new position in shares of AutoNation during the fourth quarter valued at $26,000. Private Wealth Management Group LLC purchased a new position in AutoNation during the 4th quarter valued at about $27,000. Riverview Trust Co bought a new stake in shares of AutoNation in the 1st quarter valued at about $33,000. Jones Financial Companies Lllp purchased a new stake in shares of AutoNation in the 4th quarter worth approximately $30,000. Finally, GAMMA Investing LLC lifted its position in shares of AutoNation by 90.6% in the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 96 shares during the period. Institutional investors own 94.62% of the company’s stock.

Analyst Upgrades and Downgrades

AN has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI upped their target price on shares of AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Bank of America lifted their target price on AutoNation from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Guggenheim increased their price target on AutoNation from $169.00 to $187.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, AutoNation has an average rating of “Moderate Buy” and a consensus target price of $187.00.

AutoNation Company Profile

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.