AutoNation, Inc. $AN Shares Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management increased its AutoNation stake by 8.2% in the second quarter, adding 14,115 shares to own 186,969 shares valued at approximately $34.7 million. Institutional investors collectively hold 94.62% of the company.
• Analysts maintain a favorable outlook, with 10 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $250.
• AutoNation reported quarterly earnings of $5.56 per share, beating estimates of $5.48, while revenue of $6.93 billion fell slightly short of expectations and declined 0.6% year over year.

Wedge Capital Management L L P NC raised its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,969 shares of the company's stock after purchasing an additional 14,115 shares during the quarter. Wedge Capital Management L L P NC owned about 0.56% of AutoNation worth $34,737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AN. Community Financial Services Group LLC acquired a new stake in shares of AutoNation in the second quarter valued at about $108,000. Redwood Investment Management LLC boosted its holdings in AutoNation by 1.1% in the 1st quarter. Redwood Investment Management LLC now owns 5,372 shares of the company's stock worth $1,049,000 after acquiring an additional 61 shares during the period. DV Trading LLC purchased a new position in AutoNation in the 1st quarter worth approximately $247,000. Edgestream Partners L.P. grew its position in AutoNation by 54.4% in the first quarter. Edgestream Partners L.P. now owns 53,948 shares of the company's stock valued at $10,534,000 after acquiring an additional 19,002 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in AutoNation in the first quarter valued at approximately $1,041,000. Institutional investors and hedge funds own 94.62% of the company's stock.

Analysts Set New Price Targets

AN has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of AutoNation from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and set a $248.00 price target on shares of AutoNation in a report on Monday, August 3rd. Citigroup boosted their price objective on shares of AutoNation from $287.00 to $290.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Wells Fargo & Company upped their target price 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. Finally, Argus increased their price target on shares of AutoNation from $241.00 to $246.00 and gave the stock a "buy" rating in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, AutoNation has a consensus rating of "Moderate Buy" and an average target price of $250.00.

Insider Buying and Selling at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total transaction of $198,000.00. Following the sale, the director owned 7,989 shares in the company, valued at $1,757,580. This 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 available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

AutoNation Stock Performance

AutoNation stock opened at $208.18 on Wednesday. The company has a market cap of $6.88 billion, a PE ratio of 9.64, a P/E/G ratio of 0.87 and a beta of 0.71. The company has a fifty day moving average price of $198.54 and a two-hundred day moving average price of $198.23. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18. AutoNation, Inc. has a 12 month low of $176.62 and a 12 month high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last issued its earnings results 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. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $7 billion. During the same period in the prior year, the company earned $2.26 earnings per share. The firm's revenue was down .6% compared to the same quarter last year. Research analysts expect that AutoNation, Inc. will post 21.62 earnings per share for the current year.

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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