BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 7,159 Shares of AutoNation, Inc. (AN)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in AutoNation, Inc. (NYSE:AN) by 23.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,176 shares of the company’s stock after buying an additional 7,159 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AutoNation were worth $1,567,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in AN. Invictus RG boosted its position in shares of AutoNation by 58.2% in the first quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after buying an additional 1,833 shares in the last quarter. Clinton Group Inc. bought a new position in shares of AutoNation during the first quarter worth approximately $2,065,000. Dynamic Capital Management Ltd bought a new position in shares of AutoNation during the first quarter worth approximately $581,000. California Public Employees Retirement System boosted its position in shares of AutoNation by 1.5% in the first quarter. California Public Employees Retirement System now owns 161,200 shares of the company’s stock worth $6,817,000 after buying an additional 2,400 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in shares of AutoNation by 5.9% in the first quarter. Pictet Asset Management Ltd. now owns 39,425 shares of the company’s stock worth $1,667,000 after buying an additional 2,200 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors.
AutoNation, Inc. (NYSE AN) opened at 42.91 on Friday. AutoNation, Inc. has a 12 month low of $38.20 and a 12 month high of $53.74. The stock’s 50 day moving average price is $41.66 and its 200-day moving average price is $42.26. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 10.68 and a beta of 1.24.
AutoNation (NYSE:AN) last announced its earnings results 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 for the quarter, compared to analyst estimates of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. Equities analysts expect that AutoNation, Inc. will post $3.59 EPS for the current year.
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A number of equities analysts recently commented on AN shares. Morgan Stanley decreased their target price on AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $50.00 target price (down from $52.00) on shares of AutoNation in a report on Saturday, April 29th. ValuEngine cut AutoNation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $45.00 target price (down from $48.50) on shares of AutoNation in a report on Monday, July 17th. Finally, BidaskClub raised AutoNation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.20.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of AutoNation stock in a transaction dated Friday, August 4th. The shares were 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 owns 30,713 shares in the company, valued at $1,197,499.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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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