Jupiter Topco LLC Invests $2 Million in AutoNation, Inc. $AN

Key Points

• Jupiter Topco LLC purchased a new $2 million stake in AutoNation during the second quarter, acquiring 10,758 shares. Institutional investors collectively own 94.62% of the company.
• AutoNation reported quarterly earnings of $5.56 per share, exceeding estimates of $5.48, while revenue reached $6.93 billion, slightly below expectations and down 0.6% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $250, compared with the stock’s reported price of $207.51.

Jupiter Topco LLC bought a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,758 shares of the company's stock, valued at approximately $2,000,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AN. Geneos Wealth Management Inc. boosted its position in shares of AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after acquiring an additional 64 shares in the last quarter. Employees Retirement System of Texas acquired a new position in AutoNation in the third quarter worth about $48,000. Smartleaf Asset Management LLC raised its position in AutoNation by 49.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 259 shares of the company's stock worth $54,000 after purchasing an additional 86 shares in the last quarter. Bessemer Group Inc. lifted its stake in AutoNation by 33.0% during the first quarter. Bessemer Group Inc. now owns 306 shares of the company's stock worth $59,000 after purchasing an additional 76 shares during the period. Finally, Global Retirement Partners LLC bought a new position in AutoNation during the second quarter worth about $63,000. 94.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director owned 7,989 shares of the company's stock, valued at approximately $1,757,580. This trade represents a 10.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company's stock.

AutoNation Stock Up 0.8%

Shares of AN opened at $207.51 on Friday. The business's fifty day moving average price is $202.34 and its two-hundred day moving average price is $197.28. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.00 and a beta of 0.72. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping analysts' consensus estimates of $5.48 by $0.08. The company had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $7 billion. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.26 earnings per share. On average, analysts predict that AutoNation, Inc. will post 21.69 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays boosted their price target on AutoNation from $255.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Seaport Research Partners reiterated a "buy" rating and set a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. Weiss Ratings raised AutoNation from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 17th. Stephens boosted their target price on shares of AutoNation from $220.00 to $232.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AutoNation from $235.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, August 4th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $250.00.

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.

Want to see what other hedge funds are holding AN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoNation, Inc. (NYSE:AN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source