Greatmark Investment Partners Inc. Has $31.75 Million Stock Position in AutoNation, Inc. $AN

Key Points

• Greatmark Investment Partners Inc. increased its stake in AutoNation, Inc. by 3.7% in Q2 2023, now owning 159,822 shares valued at approximately $31.75 million, making it the fund's fifth-largest holding.
• AutoNation reported a EPS of $5.46 for the quarter ending July 25, surpassing analysts' expectations of $4.70, with a year-over-year revenue increase of 7.6%.
• Institutional investors own 94.62% of AutoNation's stock, indicating strong institutional interest in the company.

Greatmark Investment Partners Inc. grew its holdings in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 159,822 shares of the company's stock after purchasing an additional 5,678 shares during the period. AutoNation makes up approximately 4.0% of Greatmark Investment Partners Inc.'s holdings, making the stock its 5th largest position. Greatmark Investment Partners Inc. owned approximately 0.42% of AutoNation worth $31,749,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AN. AQR Capital Management LLC increased its position in AutoNation by 144.6% during the 1st quarter. AQR Capital Management LLC now owns 416,167 shares of the company's stock valued at $65,950,000 after buying an additional 245,994 shares in the last quarter. Nuveen LLC purchased a new stake in shares of AutoNation in the first quarter worth $36,060,000. Vanguard Group Inc. increased its holdings in shares of AutoNation by 7.2% during the first quarter. Vanguard Group Inc. now owns 3,256,308 shares of the company's stock valued at $527,261,000 after acquiring an additional 219,474 shares in the last quarter. Boston Partners increased its holdings in shares of AutoNation by 8.3% during the first quarter. Boston Partners now owns 1,964,187 shares of the company's stock valued at $318,749,000 after acquiring an additional 149,959 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of AutoNation by 476.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,576 shares of the company's stock worth $13,881,000 after purchasing an additional 69,897 shares during the last quarter. 94.62% of the stock is owned by institutional investors.

AutoNation Trading Up 1.0%

Shares of AutoNation stock opened at $218.80 on Wednesday. The company's fifty day simple moving average is $218.49 and its 200-day simple moving average is $198.66. The stock has a market capitalization of $8.25 billion, a PE ratio of 13.71, a P/E/G ratio of 1.01 and a beta of 0.85. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $228.92.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $5.46 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 for the quarter, compared to analysts' expectations of $6.77 billion. During the same quarter last year, the business earned $3.99 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current year.

Analyst Ratings Changes

AN has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of AutoNation from $221.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 15th. Morgan Stanley upped their target price on shares of AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. increased their price target on shares of AutoNation from $205.00 to $230.00 and gave the company a "neutral" rating in a report on Tuesday, October 14th. Stephens boosted their price objective on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, Guggenheim lowered their price objective on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.63.

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.

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