Cumberland Partners Ltd Makes New $810,000 Investment in AutoNation, Inc. (NYSE:AN)

Key Points

• Cumberland Partners Ltd has acquired a new stake in AutoNation, Inc. with 5,000 shares valued at approximately $810,000 in the first quarter.
• Several institutional investors have increased their stakes in AutoNation, with hedge funds owning 94.62% of the company's shares.
• Despite trading down 1.1%, AutoNation reported earnings of $5.46 per share, which beat analysts' estimates, alongside a revenue increase of 7.6% year-over-year.

Cumberland Partners Ltd purchased a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the company's stock, valued at approximately $810,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Blueshift Asset Management LLC acquired a new position in shares of AutoNation during the first quarter worth about $1,224,000. Jefferies Financial Group Inc. increased its stake in shares of AutoNation by 66.4% during the first quarter. Jefferies Financial Group Inc. now owns 13,804 shares of the company's stock worth $2,235,000 after acquiring an additional 5,506 shares during the period. Foster & Motley Inc. increased its stake in shares of AutoNation by 75.4% during the first quarter. Foster & Motley Inc. now owns 20,412 shares of the company's stock worth $3,305,000 after acquiring an additional 8,772 shares during the period. Natixis Advisors LLC increased its stake in shares of AutoNation by 1.7% during the first quarter. Natixis Advisors LLC now owns 17,352 shares of the company's stock worth $2,810,000 after acquiring an additional 294 shares during the period. Finally, Arkadios Wealth Advisors acquired a new position in AutoNation during the first quarter worth about $206,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Price Performance

Shares of NYSE AN traded up $0.26 on Wednesday, hitting $195.76. The company's stock had a trading volume of 43,447 shares, compared to its average volume of 490,588. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The stock has a 50 day moving average of $197.43 and a 200-day moving average of $183.97. AutoNation, Inc. has a 12-month low of $148.33 and a 12-month high of $217.40.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AN. Cfra Research upgraded shares of AutoNation to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen upgraded AutoNation from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Stephens boosted their target price on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their target price on AutoNation from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their target price on AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $215.13.

AutoNation Profile

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.