AutoNation, Inc. $AN Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc trimmed its position in shares of AutoNation, Inc. (NYSE:AN) by 62.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,994 shares of the company’s stock after selling 3,387 shares during the quarter. Prospera Financial Services Inc’s holdings in AutoNation were worth $436,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AN. Aaron Wealth Advisors LLC acquired a new stake in shares of AutoNation during the 3rd quarter worth approximately $1,401,000. Paradigm Asset Management Co. LLC purchased a new position in AutoNation in the second quarter worth approximately $1,251,000. Davis Capital Management acquired a new stake in AutoNation during the third quarter worth $2,024,000. Dynasty Wealth Management LLC raised its position in AutoNation by 65.2% in the third quarter. Dynasty Wealth Management LLC now owns 6,991 shares of the company’s stock valued at $1,529,000 after purchasing an additional 2,759 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of AutoNation by 873.3% in the 2nd quarter. Allworth Financial LP now owns 4,886 shares of the company’s stock valued at $971,000 after purchasing an additional 4,384 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Stock Down 2.2%

AutoNation stock opened at $202.10 on Tuesday. The stock has a market cap of $7.01 billion, a PE ratio of 11.85 and a beta of 0.88. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.84 and a quick ratio of 0.22. The stock’s fifty day moving average is $211.04 and its two-hundred day moving average is $210.73. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $228.92.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, February 6th. The company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.17. The business had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7.21 billion. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.97 EPS. On average, sell-side analysts expect that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation announced that its Board of Directors has approved a stock buyback program on Friday, October 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

AN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective for the company in a research report on Friday, January 16th. Morgan Stanley lifted their target price on AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Evercore raised their price target on shares of AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Wells Fargo & Company upped their price objective on AutoNation from $222.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 8th. Finally, Citigroup increased their price objective on AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AutoNation presently has an average rating of “Moderate Buy” and a consensus price target of $248.11.

AutoNation Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.