Magnetar Financial LLC Takes $9.01 Million Position in AutoNation, Inc. $AN

Key Points

• Magnetar Financial LLC acquired 55,628 shares of AutoNation, Inc. in the first quarter, valued at approximately $9,007,000, representing about 0.15% ownership of the company.
• Several hedge funds have increased their positions in AutoNation, with notable increases including a 42.6% boost by Northern Trust Corp during the fourth quarter.
• Analysts have raised AutoNation's price targets, with Morgan Stanley setting the new target at $220.00, indicating strong growth potential for the stock.

Magnetar Financial LLC purchased a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 55,628 shares of the company's stock, valued at approximately $9,007,000. Magnetar Financial LLC owned about 0.15% of AutoNation as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Curat Global LLC purchased a new stake in shares of AutoNation during the 1st quarter worth approximately $36,000. NewEdge Advisors LLC boosted its holdings in AutoNation by 25.5% in the 4th quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock worth $54,000 after buying an additional 64 shares during the period. GAMMA Investing LLC boosted its holdings in AutoNation by 81.1% in the 1st quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $74,000 after buying an additional 206 shares during the period. SVB Wealth LLC bought a new position in AutoNation in the 1st quarter worth approximately $86,000. Finally, UMB Bank n.a. boosted its holdings in AutoNation by 56.8% in the 1st quarter. UMB Bank n.a. now owns 839 shares of the company's stock worth $136,000 after buying an additional 304 shares during the period. Hedge funds and other institutional investors own 94.62% of the company's stock.

AutoNation Price Performance

NYSE:AN traded up $1.56 during trading hours on Wednesday, hitting $221.70. The stock had a trading volume of 74,581 shares, compared to its average volume of 474,992. The company has a 50 day simple moving average of $205.85 and a two-hundred day simple moving average of $186.97. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. AutoNation, Inc. has a one year low of $148.33 and a one year high of $224.00. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.07 and a beta of 0.89.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, beating the consensus estimate of $4.70 by $0.76. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. The firm had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same period last year, the firm earned $3.99 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts forecast that AutoNation, Inc. will post 18.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AN. Morgan Stanley raised their price objective on shares of AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Stephens raised their price objective on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Wells Fargo & Company raised their price objective on shares of AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Bank of America raised their price objective on shares of AutoNation from $225.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Guggenheim cut their price objective on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $223.25.

AutoNation Profile

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.