Gabelli Funds LLC Sells 11,600 Shares of AutoNation, Inc. $AN

Key Points

• Gabelli Funds LLC reduced its holdings in **AutoNation, Inc.** by 4.0% during Q1, now owning approximately 0.74% of the company, worth about **$45.08 million**.
• Multiple institutional investors, including Vanguard Group and Boston Partners, significantly increased their stakes in **AutoNation** over the same period, with **94.62%** of the stock currently held by institutional investors.
• **AutoNation's** stock received bullish ratings from analysts, with **target prices** being raised by firms like Bank of America and Wells Fargo, indicating a **moderate buy** consensus with an average target price of **$223.25**.

Gabelli Funds LLC reduced its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 278,400 shares of the company's stock after selling 11,600 shares during the period. Gabelli Funds LLC owned approximately 0.74% of AutoNation worth $45,079,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AN. Curat Global LLC acquired a new stake in AutoNation during the 1st quarter worth approximately $36,000. NewEdge Advisors LLC raised its holdings in AutoNation by 25.5% during the 4th quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock worth $54,000 after buying an additional 64 shares during the period. GAMMA Investing LLC raised its holdings in shares of AutoNation by 81.1% in the first quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $74,000 after purchasing an additional 206 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of AutoNation in the first quarter valued at approximately $86,000. Finally, UMB Bank n.a. raised its holdings in shares of AutoNation by 56.8% in the first quarter. UMB Bank n.a. now owns 839 shares of the company's stock valued at $136,000 after purchasing an additional 304 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Stock Down 1.6%

AN traded down $3.51 during trading on Friday, reaching $218.83. 317,368 shares of the stock were exchanged, compared to its average volume of 379,551. The stock has a market cap of $8.25 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. AutoNation, Inc. has a twelve month low of $148.33 and a twelve month high of $224.00. The stock's 50 day moving average price is $205.06 and its two-hundred day moving average price is $186.63. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.21 and a current ratio of 0.81.

AutoNation (NYSE:AN - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.99 earnings per share. Equities analysts expect that AutoNation, Inc. will post 18.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AN shares. Morgan Stanley lifted their price objective on shares of AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Guggenheim lowered their price objective on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Bank of America lifted their price objective on shares of AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a report on Monday, June 16th. Wells Fargo & Company lifted their price objective on shares of AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of AutoNation from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $223.25.

About AutoNation

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.