Delta Lloyd Asset Management N.V. bought a new position in AutoNation, Inc. (NYSE:AN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,258 shares of the company’s stock, valued at approximately $306,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in AutoNation by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,638,114 shares of the company’s stock valued at $280,727,000 after purchasing an additional 229,169 shares during the last quarter. BlackRock Inc. lifted its position in AutoNation by 2,957.8% in the first quarter. BlackRock Inc. now owns 4,175,382 shares of the company’s stock valued at $176,578,000 after purchasing an additional 4,038,834 shares during the last quarter. State Street Corp lifted its position in AutoNation by 2.5% in the first quarter. State Street Corp now owns 3,279,144 shares of the company’s stock valued at $138,665,000 after purchasing an additional 79,834 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of AutoNation by 7.4% during the first quarter. Artisan Partners Limited Partnership now owns 2,936,019 shares of the company’s stock valued at $124,164,000 after buying an additional 202,917 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of AutoNation by 175,288.8% during the second quarter. Victory Capital Management Inc. now owns 2,090,635 shares of the company’s stock valued at $88,142,000 after buying an additional 2,089,443 shares during the period. Institutional investors own 73.42% of the company’s stock.
AN has been the topic of several research analyst reports. ValuEngine cut AutoNation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Northcoast Research raised AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, June 8th. Morgan Stanley reduced their price target on AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $46.00 price target (down from $50.00) on shares of AutoNation in a research note on Thursday, June 22nd. Finally, BidaskClub raised AutoNation from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. AutoNation has an average rating of “Hold” and a consensus target price of $45.70.
AutoNation, Inc. (AN) opened at 47.36 on Friday. The company has a market cap of $4.76 billion, a P/E ratio of 11.79 and a beta of 1.22. AutoNation, Inc. has a 12-month low of $38.20 and a 12-month high of $53.74. The firm has a 50-day moving average price of $42.99 and a 200-day moving average price of $41.95.
AutoNation (NYSE:AN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.12). AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. AutoNation’s revenue was down 3.0% on a year-over-year basis. On average, analysts forecast that AutoNation, Inc. will post $3.59 earnings per share for the current fiscal year.
AutoNation announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 29th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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In related news, Director Robert R. Grusky sold 2,800 shares of AutoNation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.99, for a total transaction of $109,172.00. Following the completion of the transaction, the director now directly owns 30,713 shares in the company, valued at approximately $1,197,499.87. The sale was disclosed in a legal filing 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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