Baypointe Partners LLC Lowers Stock Position in AutoNation, Inc. $AN

Key Points

• Baypointe Partners cut its AutoNation stake by 52.4% in the second quarter, selling 7,858 shares and retaining 7,142 shares valued at approximately $1.33 million. Institutional investors collectively own 94.62% of the company.
• AutoNation reported quarterly EPS of $5.56, beating estimates of $5.48, while revenue reached $6.93 billion, slightly below expectations and down 0.6% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $250, compared with the stock’s recent price of $207.51.

Baypointe Partners LLC lessened its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 52.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,142 shares of the company's stock after selling 7,858 shares during the period. AutoNation makes up about 3.2% of Baypointe Partners LLC's holdings, making the stock its 12th biggest holding. Baypointe Partners LLC's holdings in AutoNation were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AN. BlackRock Inc. purchased a new stake in shares of AutoNation in the 2nd quarter valued at $438,689,000. Brandywine Global Investment Management LLC grew its holdings in shares of AutoNation by 27.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 57,269 shares of the company's stock valued at $11,825,000 after purchasing an additional 12,210 shares during the last quarter. WINTON GROUP Ltd purchased a new position in AutoNation in the 4th quarter worth $6,443,000. Evolve Private Wealth LLC purchased a new position in AutoNation in the 4th quarter worth $4,077,000. Finally, PDT Partners LLC bought a new stake in AutoNation in the second quarter worth $2,824,000. Hedge funds and other institutional investors own 94.62% of the company's stock.

AutoNation Price Performance

Shares of AutoNation stock opened at $207.51 on Friday. 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 company has a market cap of $6.86 billion, a PE ratio of 9.61, a P/E/G ratio of 1.00 and a beta of 0.72. The business has a 50 day moving average of $202.34 and a 200 day moving average of $197.28. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, beating analysts' consensus estimates of $5.48 by $0.08. The firm had revenue of $6.93 billion for 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%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 EPS. As a group, equities research analysts forecast that AutoNation, Inc. will post 21.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of AutoNation from $287.00 to $290.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. decreased their price objective on AutoNation from $235.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, August 4th. Northcoast Research raised AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 target price for the company in a research note on Tuesday, July 14th. Seaport Research Partners restated a "buy" rating and set a $255.00 target price on shares of AutoNation in a report on Monday, August 3rd. Finally, Wells Fargo & Company raised their price target on AutoNation from $202.00 to $224.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.00.

Insider Activity

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the completion of the transaction, the director owned 7,989 shares of the company's stock, valued at approximately $1,757,580. This represents a 10.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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