Swiss National Bank decreased its stake in AutoNation, Inc. (NYSE:AN) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,200 shares of the company’s stock after selling 11,400 shares during the period. Swiss National Bank owned 0.24% of AutoNation worth $10,085,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Micawber Capital LLC bought a new stake in AutoNation in the second quarter worth about $830,000. Bruni J V & Co. Co. raised its position in AutoNation by 0.3% in the second quarter. Bruni J V & Co. Co. now owns 389,260 shares of the company’s stock worth $16,411,000 after acquiring an additional 1,340 shares during the period. Pacer Advisors Inc. raised its position in AutoNation by 11.4% in the second quarter. Pacer Advisors Inc. now owns 10,836 shares of the company’s stock worth $457,000 after acquiring an additional 1,107 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in AutoNation by 20.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,462 shares of the company’s stock worth $863,000 after acquiring an additional 3,474 shares during the period. Finally, Andra AP fonden raised its position in AutoNation by 494.9% in the second quarter. Andra AP fonden now owns 47,000 shares of the company’s stock worth $1,982,000 after acquiring an additional 39,100 shares during the period. 73.44% of the stock is currently owned by institutional investors and hedge funds.
AN has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. ValuEngine lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG lowered their price target on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. 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 report on Monday, July 17th. Finally, BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.70.
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Shares of AutoNation, Inc. (AN) opened at 45.80 on Wednesday. The stock has a 50 day moving average of $42.35 and a 200 day moving average of $41.96. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 11.40 and a beta of 1.22. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $53.74.
AutoNation (NYSE:AN) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. On average, equities research analysts expect that AutoNation, Inc. will post $3.59 EPS for the current year.
AutoNation announced that its board has approved a share repurchase program on Tuesday, August 29th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, Director Robert R. Grusky sold 2,800 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 30,713 shares of the company’s stock, valued at $1,197,499.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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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