Assenagon Asset Management S.A. Sells 15,464 Shares of AutoNation, Inc. $AN

Key Points

• Assenagon Asset Management cut its AutoNation position by 48.9% in the second quarter, selling 15,464 shares and retaining 16,171 shares worth approximately $3.0 million.
• Institutional investors own 94.62% of AutoNation, while director Lisa Lutoff-Perlo sold 900 shares for $198,000; insiders own 1.40% of the stock.
• AutoNation beat quarterly EPS expectations, reporting $5.56 versus the $5.48 consensus, although revenue fell 0.6% year over year to $6.93 billion. Analysts maintain a “Moderate Buy” consensus with an average $250 price target.

Assenagon Asset Management S.A. decreased its position in AutoNation, Inc. (NYSE:AN - Free Report) by 48.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,171 shares of the company's stock after selling 15,464 shares during the period. Assenagon Asset Management S.A.'s holdings in AutoNation were worth $3,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of AutoNation by 8.9% during the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company's stock worth $3,070,000 after purchasing an additional 1,551 shares during the last quarter. United Services Automobile Association bought a new position in AutoNation in the first quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 worth $15,967,000 after purchasing an additional 9,656 shares in the last quarter. Focus Partners Wealth lifted its position in shares of AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company's stock valued at $562,000 after buying an additional 511 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after buying an additional 64 shares during the last quarter. Institutional investors own 94.62% of the company's stock.

Insider Buying and Selling at AutoNation

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 7,989 shares of the company's stock, valued at approximately $1,757,580. The trade was a 10.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

AutoNation Stock Performance

NYSE AN opened at $208.46 on Friday. The stock's fifty day moving average is $199.31 and its two-hundred day moving average is $198.12. 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 firm has a market capitalization of $6.89 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.87 and a beta of 0.71. AutoNation, Inc. has a fifty-two week low of $176.62 and a fifty-two week high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings data 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. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The firm had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $7 billion. During the same period last year, the business earned $2.26 earnings per share. AutoNation's revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that AutoNation, Inc. will post 21.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AN has been the topic of a number of recent analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of AutoNation in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their target price on shares of AutoNation from $235.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, August 4th. Northcoast Research raised shares of AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 target price for the company in a research report on Tuesday, July 14th. UBS Group restated a "buy" rating and issued a $248.00 target price on shares of AutoNation in a research note on Monday, August 3rd. Finally, Barclays lifted their price target on shares of AutoNation from $255.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average target price of $250.00.

AutoNation Company 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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