Evolve Private Wealth LLC Makes New $4.08 Million Investment in AutoNation, Inc. $AN

Key Points

• Evolve Private Wealth LLC opened a new position in AutoNation during the fourth quarter, buying 19,743 shares valued at about $4.08 million.
• AutoNation reported mixed quarterly results, with earnings per share of $4.69 slightly below estimates and revenue of $6.55 billion also missing expectations; revenue fell 2.1% year over year.
• Analyst sentiment remains constructive, with nine Buy ratings and two Hold ratings, and an average price target of $246.90 versus the stock’s recent price of $186.20.

Evolve Private Wealth LLC bought a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,743 shares of the company's stock, valued at approximately $4,077,000. Evolve Private Wealth LLC owned 0.05% of AutoNation as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in AutoNation by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company's stock worth $1,960,000 after purchasing an additional 52 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of AutoNation by 0.9% in the 4th quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company's stock worth $1,170,000 after acquiring an additional 53 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of AutoNation by 0.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company's stock worth $1,376,000 after acquiring an additional 55 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in AutoNation by 13.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company's stock valued at $114,000 after acquiring an additional 61 shares during the period. Finally, Crestwood Advisors Group LLC lifted its position in AutoNation by 3.2% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company's stock valued at $454,000 after acquiring an additional 64 shares during the period. 94.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total transaction of $512,275.00. Following the transaction, the chief accounting officer directly owned 1,456 shares of the company's stock, valued at $298,348.96. This represents a 63.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

AutoNation Trading Down 4.9%

NYSE:AN opened at $186.20 on Thursday. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.05 and a beta of 0.74. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62. The company's 50 day moving average price is $195.79 and its 200-day moving average price is $201.35. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $228.92.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $4.69 earnings per share for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same quarter in the previous year, the firm earned $4.68 earnings per share. AutoNation's revenue was down 2.1% on a year-over-year basis. On average, equities research analysts forecast that AutoNation, Inc. will post 21.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley restated an "overweight" rating and issued a $240.00 price objective on shares of AutoNation in a report on Thursday, May 7th. Weiss Ratings raised AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Bank of America began coverage on AutoNation in a research report on Wednesday, March 4th. They set a "buy" rating for the company. Wells Fargo & Company lifted their price objective on AutoNation from $207.00 to $208.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Finally, Citigroup boosted their target price on AutoNation from $269.00 to $287.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $246.90.

About AutoNation

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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