Cambridge Investment Research Advisors Inc. Sells 413 Shares of AutoNation, Inc. (NYSE:AN)

Cambridge Investment Research Advisors Inc. lessened its position in AutoNation, Inc. (NYSE:ANFree Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,737 shares of the company’s stock after selling 413 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AutoNation were worth $1,312,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AN. Norges Bank bought a new stake in shares of AutoNation during the 4th quarter valued at about $42,748,000. Invesco Ltd. boosted its stake in shares of AutoNation by 31.8% during the 3rd quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock valued at $114,300,000 after purchasing an additional 181,942 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of AutoNation by 47.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after purchasing an additional 109,571 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of AutoNation by 137.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 167,178 shares of the company’s stock valued at $25,311,000 after purchasing an additional 96,797 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of AutoNation during the 4th quarter valued at about $9,247,000. Institutional investors own 94.62% of the company’s stock.

AutoNation Stock Down 1.1 %

Shares of AutoNation stock opened at $167.03 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79. The stock has a market capitalization of $6.73 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 3.18 and a beta of 1.21. AutoNation, Inc. has a 52-week low of $123.81 and a 52-week high of $182.08. The company has a 50-day simple moving average of $163.38 and a two-hundred day simple moving average of $151.36.

AutoNation (NYSE:ANGet Free Report) last issued its earnings results on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.04. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the previous year, the company earned $6.05 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts anticipate that AutoNation, Inc. will post 18.44 EPS for the current fiscal year.

AutoNation announced that its Board of Directors has initiated a stock repurchase plan on Friday, April 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 14.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

AN has been the topic of a number of research reports. Morgan Stanley raised shares of AutoNation from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $117.00 to $140.00 in a research note on Thursday, February 29th. StockNews.com cut shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of AutoNation from $142.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Guggenheim lifted their price target on shares of AutoNation from $169.00 to $187.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Bank of America lowered their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AutoNation currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.88.

Get Our Latest Analysis on AutoNation

Insider Transactions at AutoNation

In other news, Director David B. Edelson sold 10,000 shares of AutoNation stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now directly owns 48,793 shares in the company, valued at $8,197,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the completion of the sale, the insider now directly owns 4,167,270 shares in the company, valued at $672,013,960.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Edelson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the sale, the director now owns 48,793 shares of the company’s stock, valued at $8,197,224. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

AutoNation Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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