AutoNation, Inc. $AN Position Lifted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its AutoNation stake by 90.3% in the third quarter, purchasing 14,600 additional shares and bringing its holdings to 30,771 shares valued at approximately $4.85 million. Institutional investors collectively own 94.62% of the company.
• AutoNation reported quarterly earnings of $5.56 per share, exceeding estimates of $5.48, while revenue totaled $6.93 billion and declined 0.6% year over year. Analysts expect full-year earnings of approximately $21.12 per share.
• Analyst views remain mixed, with a consensus “Hold” rating and an average price target of $230; targets range from $224 to $255 among recent research firms. The stock opened at $161.82, well below its 12-month high of $235.81.

Assenagon Asset Management S.A. boosted its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 90.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,771 shares of the company's stock after purchasing an additional 14,600 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of AutoNation worth $4,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AN. Davis Capital Management raised its position in shares of AutoNation by 0.7% during the 3rd quarter. Davis Capital Management now owns 9,712 shares of the company's stock valued at $1,529,000 after buying an additional 68 shares in the last quarter. Farther Finance Advisors LLC lifted its position in AutoNation by 14.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 744 shares of the company's stock worth $117,000 after buying an additional 93 shares during the last quarter. Apella Capital LLC bought a new stake in AutoNation in the 3rd quarter worth approximately $205,000. Marathon Mission Inc. lifted its position in AutoNation by 17.6% in the 3rd quarter. Marathon Mission Inc. now owns 1,976 shares of the company's stock worth $311,000 after buying an additional 296 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in AutoNation by 9.6% in the second quarter. QRG Capital Management Inc. now owns 12,118 shares of the company's stock worth $2,251,000 after buying an additional 1,062 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.

AutoNation Trading Up 0.9%

NYSE:AN opened at $161.82 on Wednesday. AutoNation, Inc. has a 12 month low of $151.82 and a 12 month high of $235.81. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 0.79 and a beta of 0.81. The company has a 50-day moving average price of $183.41 and a 200-day moving average price of $192.80. 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 (NYSE:AN - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping the consensus estimate of $5.48 by $0.08. The business had revenue of $6.93 billion during the quarter, compared to analyst estimates of $7 billion. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. AutoNation's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. Equities analysts predict that AutoNation, Inc. will post 21.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AN shares. Wells Fargo & Company upped their price objective on shares of AutoNation from $202.00 to $224.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Argus raised their price objective on AutoNation from $241.00 to $246.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Citigroup dropped their target price on AutoNation from $290.00 to $255.00 and set a "buy" rating for the company in a report on Monday, September 21st. Weiss Ratings lowered AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, September 21st. Finally, Barclays cut their target price on shares of AutoNation from $260.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, October 6th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, AutoNation has a consensus rating of "Hold" and a consensus price target of $230.00.

AutoNation Company Profile

AutoNation, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of dealerships and online sales channels. The company represents a range of domestic, import and luxury automotive brands, offering passenger cars, trucks and sport utility vehicles.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision-repair services, vehicle protection products and financing options. Its retail operations include traditional dealerships as well as AutoNation USA locations, which focus primarily on used vehicles and related services.

Founded in 1996 as Republic Industries, the company adopted the AutoNation name as it developed its automotive retail business.

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