Leisure Capital Management Lowers Position in AutoNation, Inc. (NYSE:AN)

Leisure Capital Management cut its holdings in shares of AutoNation, Inc. (NYSE:AN) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,280 shares of the company’s stock after selling 215 shares during the quarter. Leisure Capital Management’s holdings in AutoNation were worth $1,660,000 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. State Board of Administration of Florida Retirement System lifted its stake in AutoNation by 54.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,743 shares of the company’s stock worth $8,568,000 after acquiring an additional 18,157 shares in the last quarter. Mutual Advisors LLC acquired a new position in AutoNation during the 1st quarter worth about $1,484,000. Sanders Morris Harris LLC acquired a new position in AutoNation during the 1st quarter worth about $828,000. Diversified Trust Co acquired a new position in AutoNation during the 2nd quarter worth about $838,000. Finally, BOKF NA lifted its stake in AutoNation by 39.1% during the 1st quarter. BOKF NA now owns 53,461 shares of the company’s stock worth $8,808,000 after acquiring an additional 15,015 shares in the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AN shares. Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $145.00 to $200.00 in a research note on Wednesday, September 25th. Wells Fargo & Company cut their target price on AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Stephens initiated coverage on AutoNation in a research report on Thursday, September 12th. They set an “overweight” rating and a $210.00 target price on the stock. Bank of America dropped their price target on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price target on AutoNation from $160.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.38.

Insider Buying and Selling at AutoNation

In other news, major shareholder Edward S. Lampert sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $182.06, for a total value of $91,030.00. Following the completion of the sale, the insider now directly owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Edward S. Lampert sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $182.06, for a total value of $91,030.00. Following the completion of the sale, the insider now directly owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Edward S. Lampert sold 39,194 shares of AutoNation stock in a transaction on Monday, August 26th. The stock was sold at an average price of $183.43, for a total value of $7,189,355.42. Following the transaction, the insider now directly owns 3,786,144 shares of the company’s stock, valued at approximately $694,492,393.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,256 shares of company stock worth $17,641,954. 0.74% of the stock is currently owned by insiders.

AutoNation Stock Performance

Shares of AN stock traded up $3.67 during midday trading on Wednesday, hitting $170.23. The company had a trading volume of 135,692 shares, compared to its average volume of 414,357. The company’s 50 day simple moving average is $171.43 and its 200 day simple moving average is $167.55. AutoNation, Inc. has a 52-week low of $123.81 and a 52-week high of $197.18. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 3.25 and a beta of 1.19. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.78 and a quick ratio of 0.21.

AutoNation (NYSE:AN) last announced its earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.31 by ($0.32). AutoNation had a net margin of 2.93% and a return on equity of 36.50%. The company had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter last year, the business posted $6.29 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Research analysts anticipate that AutoNation, Inc. will post 17.64 earnings per share for the current fiscal year.

About AutoNation

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.