AutoNation, Inc. $AN Stock Sold by Investment House LLC

Key Points

• Investment House LLC cut its AutoNation stake by 48.8% in the third quarter, selling 22,270 shares and retaining 23,410 shares valued at approximately $3.69 million.
• Institutional investors and hedge funds collectively own 94.62% of AutoNation, while several other investment firms modestly increased their positions.
• Analyst sentiment is mixed: AutoNation has an average “Hold” rating and a $230 price target, while the stock recently traded at $161.73. The company’s latest quarterly earnings beat expectations, but revenue declined 0.6% year over year.

Investment House LLC reduced its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 48.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,410 shares of the company's stock after selling 22,270 shares during the period. Investment House LLC owned approximately 0.07% of AutoNation worth $3,686,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its stake in shares of AutoNation by 20.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,436 shares of the company's stock worth $226,000 after buying an additional 248 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in shares of AutoNation by 3.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 3,457 shares of the company's stock valued at $544,000 after buying an additional 108 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of AutoNation by 1.0% in the third quarter. Nisa Investment Advisors LLC now owns 10,612 shares of the company's stock valued at $1,671,000 after buying an additional 102 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in shares of AutoNation by 7.2% in the third quarter. Integrated Advisors Network LLC now owns 1,909 shares of the company's stock valued at $301,000 after buying an additional 129 shares in the last quarter. Finally, SummerHaven Investment Management LLC acquired a new position in AutoNation during the third quarter worth $762,000. Institutional investors and hedge funds own 94.62% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on AN. Morgan Stanley downgraded AutoNation from an "overweight" rating to a "negative" rating in a report on Monday, October 5th. Argus upped their price target on shares of AutoNation from $241.00 to $246.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. JPMorgan Chase & Co. cut their price target on shares of AutoNation from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, October 6th. Finally, Seaport Research Partners reiterated a "buy" rating and issued a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $230.00.

Insider Buying and Selling

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director directly owned 7,989 shares in the company, valued at $1,757,580. This trade represents a 10.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

AutoNation Price Performance

AutoNation stock opened at $161.73 on Friday. The firm has a market capitalization of $5.35 billion, a PE ratio of 7.49, a P/E/G ratio of 0.75 and a beta of 0.81. AutoNation, Inc. has a 52 week low of $151.82 and a 52 week high of $235.81. The firm's 50-day simple moving average is $181.35 and its 200 day simple moving average is $192.23. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, beating 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 the consensus estimate of $7 billion. During the same period last year, the firm posted $2.26 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts predict that AutoNation, Inc. will post 21.12 EPS for the current fiscal year.

AutoNation 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.

Want to see what other hedge funds are holding AN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoNation, Inc. (NYSE:AN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.