Clear Harbor Asset Management LLC boosted its position in AutoNation, Inc. (NYSE:AN) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,305 shares of the company’s stock after buying an additional 460 shares during the period. Clear Harbor Asset Management LLC’s holdings in AutoNation were worth $383,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of AutoNation by 2,957.8% in the first quarter. BlackRock Inc. now owns 4,175,382 shares of the company’s stock worth $176,578,000 after buying an additional 4,038,834 shares during the period. Harris Associates L P raised its stake in shares of AutoNation by 324.0% in the first quarter. Harris Associates L P now owns 5,038,530 shares of the company’s stock worth $213,079,000 after buying an additional 3,850,104 shares during the period. Kiltearn Partners LLP purchased a new stake in shares of AutoNation during the first quarter worth about $85,413,000. Norges Bank purchased a new stake in shares of AutoNation during the fourth quarter worth about $29,909,000. Finally, WS Management Lllp purchased a new stake in shares of AutoNation during the first quarter worth about $22,593,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.
AutoNation, Inc. (NYSE AN) opened at 40.96 on Friday. AutoNation, Inc. has a 52 week low of $38.20 and a 52 week high of $53.74. The stock has a market cap of $4.11 billion, a P/E ratio of 10.20 and a beta of 1.24. The stock has a 50 day moving average of $41.59 and a 200-day moving average of $42.64.
AutoNation (NYSE:AN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.98 by $0.12. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts forecast that AutoNation, Inc. will post $3.59 earnings per share for the current year.
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A number of analysts recently issued reports on AN shares. BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, June 8th. Deutsche Bank AG reiterated a “hold” rating and issued a $50.00 price target (down previously from $52.00) on shares of AutoNation in a report on Saturday, April 29th. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price target on shares of AutoNation in a report on Thursday, July 6th. Finally, Morgan Stanley decreased their price target on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.20.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.99, for a total value of $109,172.00. Following the completion of the transaction, the director now owns 30,713 shares in the company, valued at approximately $1,197,499.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.
AutoNation Company Profile
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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