AutoNation, Inc. $AN Shares Bought by Private Management Group Inc.

Private Management Group Inc. raised its position in AutoNation, Inc. (NYSE:AN) by 85.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 144,808 shares of the company’s stock after purchasing an additional 66,929 shares during the period. Private Management Group Inc.’s holdings in AutoNation were worth $22,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of AutoNation by 73.9% during the second quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $36,000 after acquiring an additional 82 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of AutoNation by 33.0% in the 1st quarter. Bessemer Group Inc. now owns 306 shares of the company’s stock valued at $59,000 after acquiring an additional 76 shares during the period. Global Retirement Partners LLC purchased a new stake in AutoNation in the 2nd quarter valued at $63,000. Heritage Family Offices LLP purchased a new stake in AutoNation in the 3rd quarter valued at $67,000. Finally, Root Financial Partners LLC purchased a new stake in AutoNation in the 3rd quarter valued at $85,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Key AutoNation News

Here are the key news stories impacting AutoNation this week:

• Positive Sentiment: CFO Thomas A. Szlosek bought 1,081 shares across November 5 and 6 for about $199,801, increasing his holdings. Director Jacqueline Travisano also purchased 530 shares for about $98,204. These open-market purchases may indicate confidence in AutoNation’s prospects. CFO SEC filing Director SEC filing
• Neutral Sentiment: Morgan Stanley raised its price target from $175 to $182 but kept an “equal weight” rating. The new target is still below the cited share price of $186.31, tempering the benefit of the increase. Morgan Stanley analyst recommendations

AutoNation Price Performance

Shares of AN opened at $186.31 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.18 and a debt-to-equity ratio of 2.74. The stock’s 50 day moving average is $175.23 and its two-hundred day moving average is $192.81. AutoNation, Inc. has a twelve month low of $151.82 and a twelve month high of $235.81. The firm has a market capitalization of $5.96 billion, a PE ratio of 8.98, a P/E/G ratio of 0.94 and a beta of 0.82.

AutoNation (NYSE:AN) last issued its earnings results on Friday, October 30th. The company reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.08 by $0.03. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. AutoNation had a return on equity of 31.18% and a net margin of 2.63%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $5.01 EPS. Research analysts anticipate that AutoNation, Inc. will post 20.96 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on AN shares. Wells Fargo & Company increased their price target on shares of AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Argus lifted their price objective on shares of AutoNation from $241.00 to $246.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Stephens upped their target price on shares of AutoNation from $220.00 to $232.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Citigroup reduced their target price on shares of AutoNation from $255.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Finally, Seaport Research Partners reiterated a “buy” rating and set a $255.00 target price on shares of AutoNation in a research note on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $228.20.

Insiders Place Their Bets

In other AutoNation news, Director Jacqueline A. Travisano acquired 530 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was purchased at an average price of $185.29 per share, for a total transaction of $98,203.70. Following the completion of the transaction, the director owned 9,419 shares of the company’s stock, valued at $1,745,246.51. The trade was a 5.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas A. Szlosek bought 541 shares of AutoNation stock in a transaction on Friday, November 6th. The stock was acquired at an average cost of $184.56 per share, with a total value of $99,846.96. Following the acquisition, the chief financial officer owned 21,166 shares of the company’s stock, valued at $3,906,396.96. This trade represents a 2.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,611 shares of company stock worth $298,005 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

About AutoNation

AutoNation, Inc is a U.S. automotive retailer that sells new and used vehicles through a network of dealerships. Its stores offer vehicles from a range of manufacturers, along with related products and services.

The company also provides vehicle maintenance and repair, parts, and collision-repair services. Its offerings include financing and insurance products, as well as online tools that support vehicle research and purchasing.

Founded in 1996, AutoNation operates dealerships across the United States, with a presence concentrated in the Sun Belt.