Garner Asset Management Corp Raises Stake in AutoNation, Inc. (NYSE:AN)

Garner Asset Management Corp lifted its holdings in shares of AutoNation, Inc. (NYSE:AN) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,958 shares of the company’s stock after purchasing an additional 716 shares during the quarter. AutoNation comprises approximately 1.5% of Garner Asset Management Corp’s investment portfolio, making the stock its 15th biggest position. Garner Asset Management Corp’s holdings in AutoNation were worth $3,392,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AN. GAMMA Investing LLC grew its holdings in shares of AutoNation by 90.6% during 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. Ashton Thomas Private Wealth LLC purchased a new position in shares of AutoNation during the 2nd quarter worth $37,000. Venturi Wealth Management LLC grew its holdings in shares of AutoNation by 403.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock worth $50,000 after purchasing an additional 226 shares during the period. Quarry LP grew its holdings in shares of AutoNation by 498.5% during the 2nd quarter. Quarry LP now owns 407 shares of the company’s stock worth $65,000 after purchasing an additional 339 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of AutoNation during the 2nd quarter worth $103,000. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Trading Up 1.4 %

AN opened at $172.46 on Friday. AutoNation, Inc. has a one year low of $130.35 and a one year high of $197.18. The company has a market cap of $6.84 billion, a P/E ratio of 9.95, a PEG ratio of 3.55 and a beta of 1.21. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.20 and a current ratio of 0.80. The business’s 50-day simple moving average is $167.39 and its 200-day simple moving average is $168.38.

Analyst Ratings Changes

AN has been the topic of several research reports. Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $145.00 to $200.00 in a research note on Wednesday, September 25th. Bank of America decreased their target price on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their target price on AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their target price on AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Finally, Stephens initiated coverage on AutoNation in a research note on Thursday, September 12th. They set an “overweight” rating and a $210.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AutoNation presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

Insider Activity

In related news, major shareholder Edward S. Lampert sold 39,194 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the transaction, the insider now owns 3,786,144 shares in the company, valued at $694,492,393.92. This trade represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.74% of the company’s stock.

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.