Allworth Financial LP Invests $1.11 Million in AutoNation, Inc. $AN

Key Points

• Allworth Financial acquired 5,955 AutoNation shares worth approximately $1.11 million during the second quarter. Institutional investors and hedge funds collectively own 94.62% of the company.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $250.
• AutoNation reported quarterly EPS of $5.56, beating estimates of $5.48, while revenue reached $6.93 billion but declined 0.6% year over year. The stock opened at $198.86, and a director recently sold 900 shares for $198,000.

Allworth Financial LP acquired a new stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,955 shares of the company's stock, valued at approximately $1,106,000.

Several other institutional investors and hedge funds have also modified their holdings of AN. Geneos Wealth Management Inc. raised its holdings in AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock worth $38,000 after buying an additional 64 shares during the period. Employees Retirement System of Texas acquired a new position in shares of AutoNation in the third quarter valued at approximately $48,000. Smartleaf Asset Management LLC increased its position in shares of AutoNation by 49.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 259 shares of the company's stock worth $54,000 after acquiring an additional 86 shares in the last quarter. Bessemer Group Inc. increased its position in shares of AutoNation by 33.0% during the first quarter. Bessemer Group Inc. now owns 306 shares of the company's stock worth $59,000 after acquiring an additional 76 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of AutoNation during the second quarter worth $63,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AN. Citigroup boosted their price objective on shares of AutoNation from $287.00 to $290.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. UBS Group reiterated a "buy" rating and set a $248.00 target price on shares of AutoNation in a report on Monday, August 3rd. Argus boosted their price target on AutoNation from $241.00 to $246.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on AutoNation from $235.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, August 4th. Finally, Morgan Stanley increased their price objective on AutoNation from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $250.00.

Insider Activity at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the completion of the transaction, the director directly owned 7,989 shares of the company's stock, valued at approximately $1,757,580. This trade represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

AutoNation Stock Down 0.6%

Shares of AN stock opened at $198.86 on Friday. The firm's fifty day moving average price is $200.60 and its two-hundred day moving average price is $197.84. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. AutoNation, Inc. has a 1 year low of $176.62 and a 1 year high of $235.81. The firm has a market capitalization of $6.57 billion, a P/E ratio of 9.21, a PEG ratio of 0.83 and a beta of 0.71.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $0.08. The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.AutoNation's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 earnings per share. On average, equities analysts predict that AutoNation, Inc. will post 21.69 EPS for the current fiscal year.

AutoNation Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.

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