Cumberland Partners Ltd Buys Shares of 5,000 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 bought a new stake in AutoNation, Inc. (NYSE:AN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,000 shares of the company's stock, valued at approximately $810,000.

A number of other institutional investors have also modified their holdings of the stock. Blueshift Asset Management LLC acquired a new stake in AutoNation during the first quarter worth about $1,224,000. Jefferies Financial Group Inc. boosted its holdings in 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 buying an additional 5,506 shares in the last quarter. Foster & Motley Inc. boosted its stake in AutoNation by 75.4% in the 1st quarter. Foster & Motley Inc. now owns 20,412 shares of the company's stock worth $3,305,000 after purchasing an additional 8,772 shares during the period. Natixis Advisors LLC boosted its stake in AutoNation by 1.7% in the 1st quarter. Natixis Advisors LLC now owns 17,352 shares of the company's stock worth $2,810,000 after purchasing an additional 294 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in AutoNation in the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 94.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday. Citigroup raised shares of AutoNation to a "strong-buy" rating in a research note on Thursday, April 24th. Guggenheim dropped their target price on AutoNation from $212.00 to $183.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Cfra Research raised shares of AutoNation to a "strong-buy" rating in a report on Friday, April 25th. Finally, Stephens boosted their target price on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $215.13.

AutoNation Stock Down 0.1%

AN traded down $0.20 during trading hours on Thursday, hitting $195.31. 17,445 shares of the company's stock were exchanged, compared to its average volume of 489,264. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $217.40. The stock's 50-day moving average is $197.68 and its two-hundred day moving average is $184.05. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.99 and a beta of 0.89. The company has a quick ratio of 0.21, a current ratio of 0.81 and a debt-to-equity ratio of 1.84.

AutoNation (NYSE:AN - Get Free Report) last posted its earnings results on Friday, July 25th. The company reported $5.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.76. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. The company had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.77 billion. During the same quarter last year, the company posted $3.99 EPS. AutoNation'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 earnings per share for the current fiscal year.

AutoNation Company 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.