Algert Global LLC Boosts Stock Holdings in AutoNation, Inc. $AN

Key Points

• Algert Global LLC significantly increased its shares in AutoNation, Inc. by 1,534.7%, bringing its total ownership to 38,840 shares valued at approximately $6.29 million.
• AutoNation's stock has received positive ratings from multiple analysts, with a consensus rating of "Moderate Buy" and a price target of $223.25.
• In its latest earnings report, AutoNation reported an earnings per share (EPS) of $5.46, exceeding analyst expectations and marking a 7.6% increase in revenue year-over-year.

Algert Global LLC increased its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 1,534.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,840 shares of the company's stock after purchasing an additional 36,464 shares during the period. Algert Global LLC owned approximately 0.10% of AutoNation worth $6,289,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Brave Warrior Advisors LLC increased its holdings in AutoNation by 50.3% in the fourth quarter. Brave Warrior Advisors LLC now owns 1,461,213 shares of the company's stock valued at $248,172,000 after buying an additional 488,904 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in AutoNation by 422.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 575,000 shares of the company's stock valued at $97,658,000 after buying an additional 465,000 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in AutoNation by 63.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,104,934 shares of the company's stock valued at $187,662,000 after buying an additional 426,882 shares in the last quarter. Cartenna Capital LP purchased a new position in AutoNation in the fourth quarter valued at about $56,831,000. Finally, Nuveen LLC purchased a new position in AutoNation in the first quarter valued at about $36,060,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AN has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Wall Street Zen raised shares of AutoNation from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 target price (up from $195.00) on shares of AutoNation in a report on Thursday. Bank of America increased their target price on shares of AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Stephens increased their price target on shares of AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.25.

AutoNation Stock Down 0.9%

Shares of NYSE AN opened at $206.10 on Monday. AutoNation, Inc. has a 1 year low of $148.33 and a 1 year high of $217.40. The firm's 50 day moving average price is $200.30 and its 200 day moving average price is $184.85. The firm has a market cap of $7.77 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.01 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.21 and a current ratio of 0.81.

AutoNation (NYSE:AN - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported $5.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter last year, the business earned $3.99 earnings per share. AutoNation's revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share 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.

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