AlphaQuest LLC Raises Stake in AutoNation, Inc. $AN

Key Points

• AlphaQuest LLC significantly increased its stake in AutoNation, Inc. by 273,300.0%, owning 2,734 shares worth approximately $443,000 after acquiring additional shares in the first quarter.
• AutoNation reported a strong quarterly earnings performance, with an EPS of $5.46, exceeding analysts' estimates, and a revenue of $6.97 billion, reflecting a 7.6% increase year-over-year.
• Institutional investors currently own 94.62% of AutoNation's stock, with several major firms increasing their holdings in the first quarter of this year.

AlphaQuest LLC lifted its holdings in AutoNation, Inc. (NYSE:AN - Free Report) by 273,300.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,734 shares of the company's stock after purchasing an additional 2,733 shares during the quarter. AlphaQuest LLC's holdings in AutoNation were worth $443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AN. NewEdge Advisors LLC boosted its stake in AutoNation by 25.5% during the fourth quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock worth $54,000 after buying an additional 64 shares during the period. Stifel Financial Corp boosted its stake in shares of AutoNation by 10.8% during the fourth quarter. Stifel Financial Corp now owns 1,407 shares of the company's stock valued at $239,000 after purchasing an additional 137 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of AutoNation by 10.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,517 shares of the company's stock valued at $2,636,000 after purchasing an additional 1,473 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of AutoNation during the fourth quarter valued at $2,120,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of AutoNation by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,113 shares of the company's stock valued at $3,756,000 after acquiring an additional 119 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Down 1.6%

Shares of AN traded down $3.51 during mid-day trading on Friday, hitting $218.83. 317,368 shares of the company traded hands, compared to its average volume of 379,551. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $224.00. The company has a quick ratio of 0.21, a current ratio of 0.81 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $8.25 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. The business has a 50 day moving average of $205.06 and a 200 day moving average of $186.63.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The company reported $5.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.76. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the company posted $3.99 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Guggenheim decreased their price objective on AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a report on Monday, August 11th. Wells Fargo & Company lifted their price objective on AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Stephens boosted their target price on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley boosted their target price on shares of AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Bank of America boosted their target price on shares of AutoNation from $225.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $223.25.

AutoNation Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.