Glenview Trust Co cut its stake in AutoNation, Inc. (NYSE:AN – Get Rating) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,800 shares of the company's stock after selling 700 shares during the quarter. Glenview Trust Co's holdings in AutoNation were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of AN. Ronald Blue Trust Inc. acquired a new position in shares of AutoNation in the second quarter worth $30,000. CWM LLC increased its stake in shares of AutoNation by 54.5% in the second quarter. CWM LLC now owns 459 shares of the company's stock worth $51,000 after acquiring an additional 162 shares during the last quarter. Private Trust Co. NA increased its stake in shares of AutoNation by 202.5% in the third quarter. Private Trust Co. NA now owns 596 shares of the company's stock worth $61,000 after acquiring an additional 399 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of AutoNation in the second quarter worth $62,000. Finally, Allworth Financial LP increased its stake in shares of AutoNation by 21.2% in the second quarter. Allworth Financial LP now owns 594 shares of the company's stock worth $66,000 after acquiring an additional 104 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.
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AutoNation Stock Down 1.1 %
AN stock opened at $114.39 on Wednesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.05 and a quick ratio of 0.42. AutoNation, Inc. has a 52-week low of $94.92 and a 52-week high of $135.57. The company has a 50-day moving average of $113.73 and a two-hundred day moving average of $113.72. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 4.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.
AutoNation (NYSE:AN – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $6.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.32 by ($0.32). AutoNation had a net
margin of 5.50% and a return on equity of 62.53%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.65 billion. As a group, equities research analysts anticipate that AutoNation, Inc. will post 24.1 EPS for the current year.
Insider Buying and Selling at AutoNation
In related news, EVP Marc G. Cannon sold 1,850 shares of the stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $122.50, for a total value of $226,625.00. Following the completion of the sale, the executive vice president now owns 13,401 shares in the company, valued at $1,641,622.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Marc G. Cannon sold 1,850 shares of the stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $122.50, for a total value of $226,625.00. Following the completion of the sale, the executive vice president now owns 13,401 shares in the company, valued at $1,641,622.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Edward S. Lampert sold 7,615 shares of the stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $116.18, for a total transaction of $884,710.70. Following the completion of the sale, the insider now owns 5,587,808 shares of the company's stock, valued at approximately $649,191,533.44. The disclosure for this sale can be found here. Insiders sold 344,019 shares of company stock worth $37,978,902 over the last ninety days. Company insiders own 0.64% of the company's stock.
Wall Street Analyst Weigh In
AN has been the subject of a number of recent research reports. Morgan Stanley cut shares of AutoNation from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $104.00 to $96.00 in a report on Tuesday, January 17th. JPMorgan Chase & Co. cut shares of AutoNation from an "overweight" rating to a "neutral" rating and set a $125.00 price objective for the company. in a report on Thursday, October 6th. Wells Fargo & Company cut shares of AutoNation from an "overweight" rating to an "equal weight" rating and set a $126.00 price objective for the company. in a report on Friday, January 13th. Guggenheim upped their price objective on shares of AutoNation to $154.00 in a report on Tuesday, November 1st. Finally, StockNews.com initiated coverage on shares of AutoNation in a report on Wednesday, October 12th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $144.88.
AutoNation Company Profile
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AutoNation, Inc engages in the provision of automotive products and services. It operates through the following segments: Domestic, Import, Premium Luxury, and Corporate & Other. The Domestic segment comprises retail automotive franchises that sell new vehicles manufactured by General Motors, Ford and Stellantis.
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