Adage Capital Partners GP L.L.C. Lowers Stock Holdings in AutoNation, Inc. $AN

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in AutoNation, Inc. by 56.5%, now holding 250,000 shares valued at approximately $40.48 million.
• Several investors increased their holdings in AutoNation during the first quarter, including Wealth Enhancement Advisory Services LLC and Cerity Partners LLC, indicating strong institutional interest with 94.62% of the stock owned by institutional investors.
• Analyst ratings for AutoNation are generally positive, with a consensus price target of $223.25 and a mix of ratings including two Strong Buy, four Buy, and three Hold recommendations.

Adage Capital Partners GP L.L.C. decreased its holdings in AutoNation, Inc. (NYSE:AN - Free Report) by 56.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the company's stock after selling 325,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.66% of AutoNation worth $40,480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AN. Nuveen LLC bought a new stake in AutoNation in the first quarter valued at approximately $36,060,000. Vanguard Group Inc. raised its stake in AutoNation by 7.2% in the first quarter. Vanguard Group Inc. now owns 3,256,308 shares of the company's stock valued at $527,261,000 after buying an additional 219,474 shares during the period. Boston Partners raised its stake in AutoNation by 8.3% in the first quarter. Boston Partners now owns 1,964,187 shares of the company's stock valued at $318,749,000 after buying an additional 149,959 shares during the period. Voloridge Investment Management LLC increased its stake in shares of AutoNation by 253.0% during the fourth quarter. Voloridge Investment Management LLC now owns 172,264 shares of the company's stock worth $29,257,000 after purchasing an additional 123,466 shares during the period. Finally, Northern Trust Corp increased its stake in shares of AutoNation by 42.6% during the fourth quarter. Northern Trust Corp now owns 276,355 shares of the company's stock worth $46,936,000 after purchasing an additional 82,536 shares during the period. Institutional investors own 94.62% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AN shares. JPMorgan Chase & Co. boosted their price objective on shares of AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Morgan Stanley increased their price target on AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Guggenheim reduced their price target on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Stephens increased their price target on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Bank of America raised their target price on AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $223.25.

AutoNation Trading Up 0.2%

Shares of AN traded up $0.50 during trading hours on Monday, hitting $227.32. 604,591 shares of the stock were exchanged, compared to its average volume of 476,590. The business has a 50-day moving average of $207.32 and a 200-day moving average of $187.63. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. The firm has a market capitalization of $8.57 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88.

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

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.