Rhumbline Advisers lowered its holdings in AutoNation, Inc. (NYSE:AN) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,601 shares of the company’s stock after selling 5,207 shares during the period. Rhumbline Advisers owned approximately 0.12% of AutoNation worth $5,127,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of AN. Mason Street Advisors LLC increased its holdings in AutoNation by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 9,065 shares of the company’s stock worth $383,000 after acquiring an additional 81 shares during the period. Meeder Asset Management Inc. increased its holdings in AutoNation by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,819 shares of the company’s stock worth $667,000 after acquiring an additional 89 shares during the period. Arizona State Retirement System increased its holdings in AutoNation by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 16,291 shares of the company’s stock worth $687,000 after acquiring an additional 100 shares during the period. Chevy Chase Trust Holdings Inc. increased its holdings in AutoNation by 0.3% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 56,704 shares of the company’s stock worth $2,391,000 after acquiring an additional 158 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in AutoNation by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 31,914 shares of the company’s stock worth $1,345,000 after acquiring an additional 209 shares during the period. 73.44% of the stock is currently owned by institutional investors.
Shares of AutoNation, Inc. (NYSE AN) traded up 0.70% during midday trading on Friday, hitting $46.31. 1,435,150 shares of the stock were exchanged. The firm has a 50-day moving average of $42.76 and a 200-day moving average of $42.01. AutoNation, Inc. has a 1-year low of $38.20 and a 1-year high of $53.74. The company has a market capitalization of $4.65 billion, a P/E ratio of 11.53 and a beta of 1.22.
AutoNation (NYSE:AN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.12). AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts expect that AutoNation, Inc. will post $3.59 EPS for the current year.
AutoNation announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 29th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Buckingham Research decreased their target price on shares of AutoNation from $44.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $43.00 target price (down previously from $46.00) on shares of AutoNation in a report on Wednesday, August 9th. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price target on shares of AutoNation in a research note on Sunday, September 10th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $45.00 price target (down previously from $48.50) on shares of AutoNation in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. AutoNation has a consensus rating of “Hold” and a consensus price target of $45.70.
In related news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the sale, the director now owns 30,713 shares in the company, valued at $1,197,499.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company’s stock.
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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