Legal & General Group Plc Trims Holdings in AutoNation, Inc. $AN

Legal & General Group Plc cut its holdings in AutoNation, Inc. (NYSE:AN) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,529 shares of the company’s stock after selling 10,923 shares during the quarter. Legal & General Group Plc’s holdings in AutoNation were worth $11,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Simcoe Capital Management LLC purchased a new stake in AutoNation during the 3rd quarter valued at about $18,988,000. Cookson Peirce & Co. Inc. purchased a new stake in AutoNation during the 3rd quarter valued at about $1,140,000. 44 Wealth Management LLC purchased a new stake in AutoNation during the 3rd quarter valued at about $1,378,000. Emmett Investment Management LP purchased a new stake in AutoNation during the 3rd quarter valued at about $3,496,000. Finally, Holocene Advisors LP grew its position in AutoNation by 38.3% during the 3rd quarter. Holocene Advisors LP now owns 548,677 shares of the company’s stock valued at $120,034,000 after purchasing an additional 151,966 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total transaction of $512,275.00. Following the completion of the sale, the chief accounting officer owned 1,456 shares of the company’s stock, valued at $298,348.96. This represents a 63.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AN has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Barclays increased their price objective on shares of AutoNation from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. UBS Group initiated coverage on shares of AutoNation in a research report on Wednesday, May 27th. They set a “buy” rating and a $234.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of AutoNation from $207.00 to $208.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $246.90.

AutoNation Price Performance

NYSE AN opened at $190.53 on Thursday. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $228.92. The firm has a market capitalization of $6.38 billion, a P/E ratio of 10.32, a PEG ratio of 1.02 and a beta of 0.74. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62. The company has a 50-day moving average price of $196.54 and a 200-day moving average price of $202.24.

AutoNation (NYSE:AN) last released its quarterly earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the previous year, the company earned $4.68 EPS. AutoNation’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that AutoNation, Inc. will post 21.19 earnings per share for the current year.

About AutoNation

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.