Amundi Sells 30,563 Shares of AutoNation, Inc. $AN

Key Points

• Amundi cut its AutoNation position by 72.5% in the second quarter, selling 30,563 shares and retaining 11,611 shares valued at approximately $2.16 million.
• Institutional ownership remains high at 94.62%, with major investors including California State Teachers Retirement System, BlackRock, Norges Bank, Arrowstreet Capital, and AQR Capital increasing or initiating positions.
• Wall Street maintains a “Moderate Buy” consensus with an average price target of $250. AutoNation recently beat quarterly EPS estimates, reporting $5.56 per share versus the $5.48 consensus, while shares opened at $203.43.

Amundi reduced its position in AutoNation, Inc. (NYSE:AN - Free Report) by 72.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,611 shares of the company's stock after selling 30,563 shares during the period. Amundi's holdings in AutoNation were worth $2,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. California State Teachers Retirement System grew its position in AutoNation by 17,067.0% during the second quarter. California State Teachers Retirement System now owns 5,484,521 shares of the company's stock worth $1,018,969,000 after buying an additional 5,452,573 shares in the last quarter. BlackRock Inc. acquired a new position in AutoNation in the 2nd quarter valued at $438,689,000. Norges Bank acquired a new position in AutoNation in the 4th quarter valued at $69,319,000. Arrowstreet Capital Limited Partnership lifted its position in shares of AutoNation by 260.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 333,975 shares of the company's stock valued at $73,064,000 after acquiring an additional 241,265 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of AutoNation by 51.8% during the 2nd quarter. AQR Capital Management LLC now owns 631,744 shares of the company's stock valued at $125,439,000 after acquiring an additional 215,577 shares during the period. Institutional investors own 94.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AN. Morgan Stanley raised their price target on AutoNation from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Stephens upped their price objective on shares of AutoNation from $220.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Citigroup increased their price objective on shares of AutoNation from $287.00 to $290.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Argus raised their target price on shares of AutoNation from $241.00 to $246.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their target price on shares of AutoNation from $202.00 to $224.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average target price of $250.00.

AutoNation Stock Down 0.1%

Shares of AN opened at $203.43 on Monday. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.99 and a beta of 0.72. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78. The stock has a fifty day moving average of $204.93 and a 200-day moving average of $197.61.

AutoNation (NYSE:AN - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping analysts' consensus estimates 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, sell-side analysts anticipate that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

Insider Transactions at AutoNation

In other 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 transaction of $198,000.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company's stock.

AutoNation Company Profile

AutoNation, Inc is a leading automotive retailer in the United States. The company sells new and used vehicles through a network of franchised dealerships and provides automotive services including vehicle financing, insurance products, maintenance, repair, parts, and collision-repair services.

In addition to its manufacturer-branded dealerships, AutoNation operates AutoNation USA locations focused primarily on used vehicles and offers digital tools that allow customers to research, purchase, finance, and service vehicles online.

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