Insider Selling: AutoNation, Inc. (AN) COO Sells $308,779.56 in Stock
AutoNation, Inc. (NYSE:AN) COO Lance E. Iserman sold 5,886 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $52.46, for a total transaction of $308,779.56. Following the transaction, the chief operating officer now directly owns 4,860 shares in the company, valued at $254,955.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of AutoNation, Inc. (NYSE AN) opened at $52.06 on Friday. The company has a market cap of $4,846.87, a PE ratio of 13.76, a P/E/G ratio of 2.21 and a beta of 1.24. AutoNation, Inc. has a 12 month low of $38.20 and a 12 month high of $55.77. The company has a quick ratio of 0.17, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.16. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.58 billion. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 EPS. equities analysts anticipate that AutoNation, Inc. will post 3.74 earnings per share for the current year.
AutoNation announced that its Board of Directors has approved a share buyback plan on Tuesday, August 29th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its stake in shares of AutoNation by 1,332.8% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 19,500 shares of the company’s stock worth $884,000 after purchasing an additional 18,139 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of AutoNation by 6.6% during the 3rd quarter. California Public Employees Retirement System now owns 176,140 shares of the company’s stock worth $8,360,000 after purchasing an additional 10,940 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of AutoNation during the 3rd quarter worth about $1,737,000. Cubist Systematic Strategies LLC acquired a new stake in shares of AutoNation during the 3rd quarter worth about $751,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of AutoNation by 315.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 107,700 shares of the company’s stock worth $5,111,000 after purchasing an additional 157,700 shares during the last quarter. 83.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on AN shares. BidaskClub cut shares of AutoNation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Deutsche Bank AG reaffirmed a “hold” rating and set a $43.00 price target (down from $46.00) on shares of AutoNation in a research note on Wednesday, August 9th. UBS AG cut shares of AutoNation from a “positive” rating to a “neutral” rating in a research note on Thursday, September 28th. KeyCorp reaffirmed a “hold” rating on shares of AutoNation in a research note on Friday, September 1st. Finally, Northcoast Research cut shares of AutoNation from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $46.88.
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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