Caxton Associates LLP Invests $1.27 Million in AutoNation, Inc. $AN

Key Points

• Caxton Associates LLP initiated a new position in AutoNation during the first quarter, buying 6,501 shares worth about $1.27 million.
• Several other hedge funds also added or opened positions, and institutional investors now own a very large 94.62% of AutoNation’s stock.
• Wall Street sentiment remains constructive: analysts have a Moderate Buy consensus, with a consensus price target of $246.18, though AutoNation’s latest quarterly results slightly missed EPS and revenue estimates.

Caxton Associates LLP acquired a new stake in AutoNation, Inc. (NYSE:AN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,501 shares of the company's stock, valued at approximately $1,269,000.

Several other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock worth $38,000 after purchasing an additional 64 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in AutoNation in the 4th quarter valued at $41,000. Employees Retirement System of Texas purchased a new position in shares of AutoNation during the 3rd quarter valued at $48,000. Smartleaf Asset Management LLC grew its position in shares of AutoNation by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 259 shares of the company's stock valued at $54,000 after purchasing an additional 86 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of AutoNation in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 94.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AN. Wells Fargo & Company lowered their price objective on AutoNation from $208.00 to $202.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. Citigroup boosted their target price on AutoNation from $269.00 to $287.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Barclays upped their target price on AutoNation from $255.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $240.00 price target on shares of AutoNation in a report on Thursday, May 7th. Finally, Northcoast Research upgraded AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 price target for the company in a research report on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.18.

Insider Transactions at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total value of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares in the company, valued at approximately $298,348.96. This represents a 63.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

AutoNation Stock Performance

AutoNation stock opened at $208.28 on Friday. The firm's fifty day moving average price is $192.22 and its 200-day moving average price is $198.30. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.20 and a current ratio of 0.81. The stock has a market cap of $6.97 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.75. AutoNation, Inc. has a fifty-two week low of $176.62 and a fifty-two week high of $228.92.

AutoNation (NYSE:AN - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.71 by ($0.02). The company had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.65 billion. AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The firm's revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.68 earnings per share. On average, equities research analysts expect that AutoNation, Inc. will post 21.41 earnings per share for the current fiscal year.

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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