First Trust Advisors LP Has $7.60 Million Position in AutoNation, Inc. (AN)
First Trust Advisors LP raised its position in shares of AutoNation, Inc. (NYSE:AN) by 34.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,275 shares of the company’s stock after buying an additional 46,202 shares during the period. First Trust Advisors LP owned 0.18% of AutoNation worth $7,600,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AN. Nordea Investment Management AB boosted its position in shares of AutoNation by 43.8% in the first quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after buying an additional 1,000 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of AutoNation by 178.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,454 shares of the company’s stock worth $198,000 after buying an additional 2,854 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of AutoNation during the first quarter worth about $206,000. Achmea Investment Management B.V. acquired a new position in shares of AutoNation during the first quarter worth about $209,000. Finally, 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. Hedge funds and other institutional investors own 73.44% of the company’s stock.
Shares of AutoNation, Inc. (AN) opened at 42.91 on Monday. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 10.68 and a beta of 1.24. 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 of $41.66 and a 200 day moving average of $42.26.
AutoNation (NYSE:AN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.12. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. AutoNation’s revenue was down 3.0% on a year-over-year basis. On average, analysts expect that AutoNation, Inc. will post $3.59 earnings per share for the current year.
Several research analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Wells Fargo & Company restated a “market perform” rating and set a $45.00 price target (down from $48.50) on shares of AutoNation in a report on Monday, July 17th. Deutsche Bank AG cut their price target on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. Finally, ValuEngine cut shares of AutoNation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.20.
In related news, Director Robert R. Grusky sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.99, for a total value of $109,172.00. Following the sale, the director now owns 30,713 shares in the company, valued at $1,197,499.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by corporate insiders.
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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