Alliancebernstein L.P. Sells 73,939 Shares of AutoNation, Inc. $AN

Key Points

• AllianceBernstein L.P. has reduced its holdings in AutoNation, Inc. by 8.7% in Q1, now owning 777,931 shares valued at approximately $125.96 million.
• Several institutional investors have increased their stakes in AutoNation, with Exchange Traded Concepts LLC boosting its holdings by an impressive 762.6% during the same period.
• Analysts have set new price targets for AutoNation, with Morgan Stanley and Wells Fargo raising their targets to $220.00 and $221.00, respectively, reflecting positive sentiment for the stock.

Alliancebernstein L.P. decreased its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 777,931 shares of the company's stock after selling 73,939 shares during the period. Alliancebernstein L.P. owned about 2.06% of AutoNation worth $125,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Curat Global LLC acquired a new stake in shares of AutoNation during the first quarter worth approximately $36,000. GAMMA Investing LLC increased its holdings in shares of AutoNation by 81.1% during the first quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $74,000 after buying an additional 206 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of AutoNation during the first quarter worth approximately $86,000. UMB Bank n.a. increased its holdings in shares of AutoNation by 56.8% during the first quarter. UMB Bank n.a. now owns 839 shares of the company's stock worth $136,000 after buying an additional 304 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of AutoNation by 762.6% during the first quarter. Exchange Traded Concepts LLC now owns 923 shares of the company's stock worth $149,000 after buying an additional 816 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company's stock.

AutoNation Trading Up 0.4%

AN traded up $0.88 during trading on Friday, reaching $226.54. 437,408 shares of the company's stock were exchanged, compared to its average volume of 341,308. The company's fifty day moving average price is $207.32 and its 200-day moving average price is $187.63. 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, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The firm has a market capitalization of $8.54 billion, a PE ratio of 14.19, a P/E/G ratio of 1.11 and a beta of 0.88.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $5.46 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 during the quarter, compared to analyst estimates of $6.77 billion. During the same quarter in the previous year, the business earned $3.99 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that AutoNation, Inc. will post 18.15 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised their price target 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. Stephens raised their price target on shares of AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Guggenheim lowered their price target 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. Wall Street Zen raised shares of AutoNation from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. 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, AutoNation has a consensus rating of "Moderate Buy" and an average target price 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.