Bayforest Capital Ltd Acquires New Holdings in AutoNation, Inc. $AN

Key Points

• Bayforest Capital Ltd has invested $242,000 in AutoNation, acquiring 1,494 shares as indicated in their recent 13F filing.
• Several institutional investors have also increased their stakes in AutoNation, with 94.62% of the company's stock now owned by institutional investors.
• Wall Street analysts have raised their price targets for AutoNation, with a consensus target of $222.63 and ratings including two Strong Buy and four Buy recommendations.

Bayforest Capital Ltd acquired a new stake in AutoNation, Inc. (NYSE:AN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,494 shares of the company's stock, valued at approximately $242,000.

A number of other hedge funds have also made changes to their positions in the stock. Curat Global LLC bought a new stake in AutoNation during the first quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in shares of AutoNation by 81.1% in the 1st quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $74,000 after buying an additional 206 shares in the last quarter. SVB Wealth LLC acquired a new position in AutoNation during the first quarter worth about $86,000. UMB Bank n.a. grew its holdings in AutoNation by 56.8% during the first quarter. UMB Bank n.a. now owns 839 shares of the company's stock worth $136,000 after acquiring an additional 304 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in AutoNation by 762.6% during the first quarter. Exchange Traded Concepts LLC now owns 923 shares of the company's stock worth $149,000 after acquiring an additional 816 shares during the period. Institutional investors and hedge funds own 94.62% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stephens upped their price target on shares of AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley upped their price target on shares of AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Bank of America dropped their price target on AutoNation from $255.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. JPMorgan Chase & Co. lifted their price target on AutoNation from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, Guggenheim dropped their price target on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.63.

AutoNation Stock Down 0.9%

NYSE AN traded down $1.98 during trading on Monday, reaching $220.00. 426,194 shares of the company's stock were exchanged, compared to its average volume of 477,244. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The firm has a market capitalization of $8.30 billion, a PE ratio of 13.78, a P/E/G ratio of 1.02 and a beta of 0.89. The company has a current ratio of 0.81, a quick ratio of 0.21 and a debt-to-equity ratio of 1.84. The company's fifty day simple moving average is $209.04 and its 200-day simple moving average is $189.15.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.76. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company posted $3.99 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that AutoNation, Inc. will post 18.15 EPS for the current 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.