Bank of New York Mellon Corp reduced its position in AutoNation, Inc. (NYSE:AN) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 796,651 shares of the company’s stock after selling 77,080 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.89% of AutoNation worth $38,702,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of AutoNation by 346.1% in the 1st quarter. SG Americas Securities LLC now owns 45,140 shares of the company’s stock worth $2,112,000 after acquiring an additional 35,021 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of AutoNation in the 1st quarter worth approximately $660,000. Prudential Financial Inc. lifted its holdings in shares of AutoNation by 682.1% in the 1st quarter. Prudential Financial Inc. now owns 776,998 shares of the company’s stock worth $36,348,000 after acquiring an additional 677,653 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of AutoNation in the 1st quarter worth approximately $201,000. Finally, M&T Bank Corp lifted its holdings in shares of AutoNation by 5.0% in the 1st quarter. M&T Bank Corp now owns 92,080 shares of the company’s stock worth $4,307,000 after acquiring an additional 4,384 shares during the last quarter. 65.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE AN opened at $43.69 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.20 and a debt-to-equity ratio of 0.78. AutoNation, Inc. has a 52 week low of $42.94 and a 52 week high of $62.02. The firm has a market capitalization of $4.08 billion, a P/E ratio of 11.75, a PEG ratio of 1.43 and a beta of 1.28.
AutoNation (NYSE:AN) last issued its earnings results on Wednesday, August 1st. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.13 by $0.01. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.42 billion. AutoNation had a net margin of 2.02% and a return on equity of 16.64%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. analysts anticipate that AutoNation, Inc. will post 4.7 earnings per share for the current fiscal year.
Several research analysts recently commented on the stock. SunTrust Banks assumed coverage on shares of AutoNation in a research note on Friday, August 24th. They issued a “hold” rating and a $48.00 target price on the stock. Buckingham Research decreased their target price on shares of AutoNation from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. ValuEngine downgraded shares of AutoNation from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, Morgan Stanley downgraded shares of AutoNation from an “overweight” rating to an “underweight” rating and set a $57.00 target price on the stock. in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.88.
In other AutoNation news, CAO Christopher Cade sold 1,443 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $47.96, for a total transaction of $69,206.28. Following the transaction, the chief accounting officer now directly owns 1,199 shares of the company’s stock, valued at approximately $57,504.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rick L. Burdick sold 4,808 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $47.00, for a total transaction of $225,976.00. Following the transaction, the director now directly owns 38,686 shares in the company, valued at $1,818,242. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,461 shares of company stock worth $5,685,865. Insiders own 2.80% of the company’s stock.
AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.
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