Quantbot Technologies LP Acquires 32,024 Shares of AutoNation, Inc. $AN

Quantbot Technologies LP raised its holdings in AutoNation, Inc. (NYSE:AN) by 379.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,466 shares of the company’s stock after acquiring an additional 32,024 shares during the quarter. Quantbot Technologies LP owned about 0.11% of AutoNation worth $8,853,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of AutoNation by 8.9% during the first quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock worth $3,070,000 after purchasing an additional 1,551 shares during the period. United Services Automobile Association acquired a new position in AutoNation in the first quarter valued at about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AutoNation by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock worth $15,967,000 after buying an additional 9,656 shares during the last quarter. Focus Partners Wealth grew its position in shares of AutoNation by 17.3% during the 1st quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock worth $562,000 after buying an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 94.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of AutoNation from $225.00 to $233.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Evercore raised their price objective on AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. raised shares of AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective on the stock in a research report on Friday, January 16th. Weiss Ratings cut AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Finally, Barclays dropped their price target on AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.11.

AutoNation Stock Down 0.9%

AN stock opened at $194.83 on Friday. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 11.42 and a beta of 0.88. AutoNation, Inc. has a twelve month low of $148.33 and a twelve month high of $228.92. The business has a 50 day moving average price of $208.83 and a two-hundred day moving average price of $210.79. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 2.39.

AutoNation (NYSE:AN) last issued its earnings results on Friday, February 6th. The company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The company had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the company posted $4.97 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation announced that its Board of Directors has initiated a share repurchase program on Friday, October 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

AutoNation Company 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.