AutoNation, Inc. $AN Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group cut its AutoNation stake by 18.9% in the second quarter, selling 168,612 shares and retaining 722,126 shares valued at approximately $134.2 million. Institutional investors collectively own 94.62% of the company.
• AutoNation reported quarterly EPS of $5.56, exceeding analyst expectations of $5.48, while revenue reached $6.93 billion, slightly below estimates and down 0.6% year over year.
• Analysts remain broadly bullish, with 10 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $250, above the reported share price of $200.35.

Alyeska Investment Group L.P. decreased its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 722,126 shares of the company's stock after selling 168,612 shares during the quarter. Alyeska Investment Group L.P. owned approximately 2.18% of AutoNation worth $134,164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AN. Northwestern Mutual Wealth Management Co. raised its position in shares of AutoNation by 8.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,570 shares of the company's stock worth $477,000 after purchasing an additional 193 shares during the last quarter. Van ECK Associates Corp acquired a new stake in AutoNation in the 2nd quarter worth about $2,241,000. Hsbc Holdings PLC increased its stake in AutoNation by 967.8% during the 2nd quarter. Hsbc Holdings PLC now owns 18,750 shares of the company's stock worth $3,483,000 after buying an additional 16,994 shares in the last quarter. Prosperitas Financial LLC purchased a new stake in AutoNation during the 2nd quarter worth approximately $4,084,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of AutoNation during the second quarter valued at approximately $283,000. Hedge funds and other institutional investors own 94.62% of the company's stock.

AutoNation Stock Up 0.8%

Shares of AN opened at $200.35 on Friday. AutoNation, Inc. has a 52-week low of $176.62 and a 52-week high of $235.81. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The stock has a fifty day simple moving average of $201.30 and a two-hundred day simple moving average of $197.40. The company has a market capitalization of $6.62 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.83 and a beta of 0.71.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.48 by $0.08. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 earnings per share. As a group, equities analysts forecast that AutoNation, Inc. will post 21.69 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AN shares. Northcoast Research upgraded AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 target price on the stock in a research report on Tuesday, July 14th. Weiss Ratings upgraded AutoNation from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 17th. Seaport Research Partners reissued a "buy" rating and issued a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. Citigroup raised their price objective on AutoNation from $287.00 to $290.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Finally, Morgan Stanley lifted their target price on shares of AutoNation from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, AutoNation presently has a consensus rating of "Moderate Buy" and an average target price of $250.00.

Insiders Place Their Bets

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 sale, the director owned 7,989 shares of the company's stock, valued at $1,757,580. This trade 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 the SEC website. Insiders own 1.40% of the company's stock.

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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