Assenagon Asset Management S.A. Has $7.76 Million Stock Position in AutoNation, Inc. $AN

Assenagon Asset Management S.A. grew its position in AutoNation, Inc. (NYSE:AN) by 409.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,490 shares of the company’s stock after purchasing an additional 28,525 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of AutoNation worth $7,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew 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 buying an additional 64 shares in the last quarter. Parallel Advisors LLC lifted its stake in AutoNation by 45.3% in the second quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after acquiring an additional 117 shares during the last quarter. SVB Wealth LLC acquired a new stake in AutoNation in the first quarter valued at approximately $86,000. IFP Advisors Inc grew its position in AutoNation by 38.0% in the second quarter. IFP Advisors Inc now owns 508 shares of the company’s stock worth $101,000 after acquiring an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of AutoNation by 33.3% during the 2nd quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after purchasing an additional 153 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Up 3.4%

Shares of AN stock opened at $209.29 on Friday. AutoNation, Inc. has a 12 month low of $148.33 and a 12 month high of $228.92. The company has a quick ratio of 0.20, a current ratio of 0.79 and a debt-to-equity ratio of 1.93. The firm has a market cap of $7.63 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. The stock has a 50 day moving average of $205.99 and a 200-day moving average of $207.35.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.16. The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.74 billion. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. AutoNation’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $4.02 earnings per share. On average, equities analysts predict that AutoNation, Inc. will post 18.15 EPS for the current year.

AutoNation announced that its board has authorized a stock buyback plan on Friday, October 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AN shares. Evercore ISI lifted their price objective on shares of AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Barclays started coverage on AutoNation in a report on Tuesday, November 11th. They set an “overweight” rating and a $250.00 target price on the stock. Wells Fargo & Company decreased their price target on AutoNation from $221.00 to $220.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Wall Street Zen downgraded AutoNation from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Bank of America reduced their target price on AutoNation from $255.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.00.

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.