Assenagon Asset Management S.A. Raises Stock Position in AutoNation, Inc. $AN

Key Points

• Assenagon Asset Management sharply increased its AutoNation stake by 1,043.7% in the first quarter, ending with 31,635 shares worth about $6.18 million.
• Wall Street sentiment remains positive: multiple firms reaffirmed or initiated buy/overweight ratings, and the stock has a consensus Moderate Buy rating with an average price target of $246.90.
• AutoNation’s latest quarterly results missed expectations slightly, with EPS of $4.69 and revenue of $6.55 billion, while a company insider also sold shares during the period.

Assenagon Asset Management S.A. boosted its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 1,043.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 31,635 shares of the company's stock after acquiring an additional 28,869 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of AutoNation worth $6,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in AutoNation by 8.9% in the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company's stock valued at $3,070,000 after buying an additional 1,551 shares in the last quarter. United Services Automobile Association acquired a new position in shares of AutoNation during the first quarter valued at approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of AutoNation by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company's stock valued at $15,967,000 after acquiring an additional 9,656 shares in the last quarter. Focus Partners Wealth lifted its position in shares of AutoNation by 17.3% in the first quarter. Focus Partners Wealth now owns 3,472 shares of the company's stock valued at $562,000 after acquiring an additional 511 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock worth $38,000 after acquiring an additional 64 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AN. Morgan Stanley reiterated an "overweight" rating and set a $240.00 price target on shares of AutoNation in a research report on Thursday, May 7th. UBS Group began coverage on AutoNation in a report on Wednesday, May 27th. They issued a "buy" rating and a $234.00 price objective on the stock. Weiss Ratings raised shares of AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. Barclays upped their target price on shares of AutoNation from $240.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Bank of America initiated coverage on shares of AutoNation in a research report on Wednesday, March 4th. They issued a "buy" rating for the company. Nine investment 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 stock presently has an average rating of "Moderate Buy" and an average price target of $246.90.

AutoNation Stock Down 0.0%

NYSE AN opened at $191.62 on Monday. The business's fifty day simple moving average is $194.72 and its 200-day simple moving average is $200.27. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62. The firm has a market cap of $6.41 billion, a PE ratio of 10.38, a P/E/G ratio of 1.02 and a beta of 0.74. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $228.92.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same period in the prior year, the company posted $4.68 EPS. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that AutoNation, Inc. will post 21.19 earnings per share for the current year.

Insiders Place Their Bets

In other AutoNation news, CAO Kimberly Dees sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total value of $512,275.00. Following the transaction, the chief accounting officer directly owned 1,456 shares in the company, valued at $298,348.96. The trade was a 63.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

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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