Alpha DNA Investment Management LLC Takes Position in AutoNation, Inc. (NYSE:AN)
Alpha DNA Investment Management LLC acquired a new position in shares of AutoNation, Inc. (NYSE:AN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,279 shares of the company’s stock, valued at approximately $159,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of AutoNation by 7,502.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,372,513 shares of the company’s stock worth $165,578,000 after buying an additional 2,341,304 shares during the period. AQR Capital Management LLC grew its position in AutoNation by 30.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,672,809 shares of the company’s stock valued at $88,358,000 after acquiring an additional 390,731 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in AutoNation by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 698,094 shares of the company’s stock worth $48,720,000 after purchasing an additional 60,826 shares during the period. Norges Bank acquired a new stake in shares of AutoNation during the fourth quarter worth about $47,569,000. Finally, Bank of New York Mellon Corp increased its stake in AutoNation by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 658,269 shares of the company’s stock worth $45,941,000 after buying an additional 3,839 shares during the period. Hedge funds and other institutional investors own 63.36% of the company’s stock.
Several equities analysts have commented on AN shares. JPMorgan Chase & Co. downgraded shares of AutoNation from an “overweight” rating to a “neutral” rating and set a $75.00 price target for the company. in a research note on Friday, January 15th. They noted that the move was a valuation call. Truist boosted their target price on AutoNation from $73.00 to $80.00 in a research note on Thursday, February 18th. Finally, Morgan Stanley boosted their price objective on AutoNation from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, February 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.50.
AutoNation (NYSE:AN) last announced its quarterly earnings results on Monday, February 15th. The company reported $2.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.42. AutoNation had a net margin of 1.92% and a return on equity of 17.17%. The company had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, sell-side analysts forecast that AutoNation, Inc. will post 6.73 earnings per share for the current fiscal year.
In other news, major shareholder Edward S. Lampert sold 3,989 shares of the stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $76.10, for a total value of $303,562.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP C Coleman Edmunds sold 3,270 shares of the firm’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $77.97, for a total transaction of $254,961.90. Insiders have sold a total of 293,373 shares of company stock worth $23,214,316 over the last quarter. 2.10% of the stock is owned by company insiders.
AutoNation, Inc engages in the provision of automotive products and services. It operates through the following segments: Domestic, Import, Premium Luxury, and Corporate & Other. The Domestic segment comprises retail automotive franchises that sell new vehicles manufactured by General Motors, Ford and Chrysler.
Read More: Hold Rating
Want to see what other hedge funds are holding AN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoNation, Inc. (NYSE:AN).
Receive News & Ratings for AutoNation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoNation and related companies with MarketBeat.com's FREE daily email newsletter.