Capital Research Global Investors held its stake in AutoNation, Inc. (NYSE:AN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,000,000 shares of the company’s stock at the close of the second quarter. Capital Research Global Investors owned about 5.97% of AutoNation worth $252,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Garner Asset Management Corp purchased a new stake in AutoNation during the 2nd quarter worth $1,147,000. Arlington Value Capital LLC increased its stake in AutoNation by 284.0% during the 2nd quarter. Arlington Value Capital LLC now owns 2,096,311 shares of the company’s stock worth $88,380,000 after buying an additional 1,550,426 shares during the period. Brandywine Global Investment Management LLC increased its stake in AutoNation by 279.8% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 127,547 shares of the company’s stock worth $5,378,000 after buying an additional 93,964 shares during the period. Dimensional Fund Advisors LP increased its stake in AutoNation by 23.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,435,057 shares of the company’s stock worth $102,661,000 after buying an additional 459,599 shares during the period. Finally, Ramsey Quantitative Systems purchased a new stake in AutoNation during the 2nd quarter worth $312,000. 73.42% of the stock is currently owned by institutional investors and hedge funds.

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Shares of AutoNation, Inc. (NYSE:AN) traded up 0.29% on Thursday, reaching $47.75. 33,418 shares of the company’s stock traded hands. The firm has a market capitalization of $4.80 billion, a P/E ratio of 11.89 and a beta of 1.21. AutoNation, Inc. has a 52 week low of $38.20 and a 52 week high of $53.74. The company’s 50-day moving average is $45.24 and its 200-day moving average is $42.18.

AutoNation (NYSE:AN) last released its earnings results on Wednesday, August 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.12). AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. AutoNation’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that AutoNation, Inc. will post $3.59 earnings per share for the current fiscal year.

AutoNation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Robert R. Grusky sold 2,800 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were 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 of the company’s stock, valued at approximately $1,197,499.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Several equities research analysts recently issued reports on the stock. Northcoast Research downgraded shares of AutoNation from a “buy” rating to a “neutral” rating in a research note on Wednesday. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Berenberg Bank assumed coverage on shares of AutoNation in a research note on Wednesday. They set a “buy” rating and a $55.00 price target on the stock. Buckingham Research dropped their price target on shares of AutoNation from $44.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $43.00 price target (down previously from $46.00) on shares of AutoNation in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, twelve 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 price target of $45.55.

About AutoNation

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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Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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