AutoNation, Inc. (NYSE:AN) Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group Inc. reduced its stake in AutoNation by 7.0%, owning approximately 0.34% of the company, valued at $21 million after selling 9,813 shares.
• Analysts have mixed opinions on AutoNation's stock, with a consensus rating of "Moderate Buy" and a target price of approximately $209.88, reflecting potential growth despite recent price reductions from some analysts.
• In the first quarter of the year, several institutional investors increased their holdings significantly, with Exchange Traded Concepts LLC raising their stake by 762.6%, indicating strong institutional interest in AutoNation.

Private Management Group Inc. cut its holdings in AutoNation, Inc. (NYSE:AN - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 129,730 shares of the company's stock after selling 9,813 shares during the period. Private Management Group Inc. owned about 0.34% of AutoNation worth $21,006,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AN. Curat Global LLC acquired a new position in AutoNation in the first quarter valued at approximately $36,000. NewEdge Advisors LLC lifted its holdings in shares of AutoNation by 25.5% in the 4th quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock worth $54,000 after purchasing an additional 64 shares during the last quarter. GAMMA Investing LLC boosted its position in AutoNation by 81.1% during the 1st quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $74,000 after purchasing an additional 206 shares during the period. UMB Bank n.a. grew its stake in AutoNation by 56.8% during the 1st quarter. UMB Bank n.a. now owns 839 shares of the company's stock worth $136,000 after buying an additional 304 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in AutoNation by 762.6% in the first quarter. Exchange Traded Concepts LLC now owns 923 shares of the company's stock worth $149,000 after buying an additional 816 shares during the period. Institutional investors own 94.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Guggenheim reduced their price target on shares of AutoNation from $212.00 to $183.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Cfra Research upgraded shares of AutoNation to a "strong-buy" rating in a research report on Friday, April 25th. Citigroup raised AutoNation to a "strong-buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on AutoNation from $195.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, Wall Street Zen raised AutoNation from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.88.

AutoNation Stock Down 2.2%

AN opened at $200.15 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.22 and a current ratio of 0.77. The company has a market capitalization of $7.55 billion, a PE ratio of 11.84, a P/E/G ratio of 1.04 and a beta of 0.99. The stock's fifty day moving average is $195.92 and its 200-day moving average is $182.99. AutoNation, Inc. has a one year low of $148.33 and a one year high of $217.40.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $5.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.60 by $0.86. AutoNation had a return on equity of 30.08% and a net margin of 2.51%. On average, equities analysts predict that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

About AutoNation

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.

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