Mountain Lake Investment Management LLC Raises Stock Position in AutoNation, Inc. $AN

Key Points

• Mountain Lake Investment Management LLC increased its stake in AutoNation, Inc. by 63.0%, now owning 49,225 shares valued at approximately $7.97 million, which constitutes about 7.5% of its portfolio.
• AutoNation recently reported strong earnings, with an EPS of $5.46 for the quarter, surpassing estimates and showing a 7.6% year-over-year revenue increase.
• Institutional investors control a significant portion of AutoNation's stock, owning 94.62% of the company, indicating strong market confidence.

Mountain Lake Investment Management LLC raised its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 63.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,225 shares of the company's stock after purchasing an additional 19,025 shares during the period. AutoNation accounts for about 7.5% of Mountain Lake Investment Management LLC's investment portfolio, making the stock its 4th largest position. Mountain Lake Investment Management LLC owned approximately 0.13% of AutoNation worth $7,971,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Curat Global LLC acquired a new stake in AutoNation in the first quarter worth about $36,000. GAMMA Investing LLC boosted its position in shares of AutoNation by 81.1% during the first quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $74,000 after buying an additional 206 shares during the period. SVB Wealth LLC acquired a new position in AutoNation during the first quarter valued at approximately $86,000. UMB Bank n.a. raised its stake in 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 buying an additional 304 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in AutoNation by 762.6% in the first quarter. Exchange Traded Concepts LLC now owns 923 shares of the company's stock valued at $149,000 after buying an additional 816 shares during the period. Institutional investors and hedge funds own 94.62% of the company's stock.

AutoNation Stock Performance

Shares of AutoNation stock traded up $3.98 on Thursday, hitting $227.23. 228,239 shares of the company's stock were exchanged, compared to its average volume of 474,948. 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, Inc. has a 1 year low of $148.33 and a 1 year high of $228.92. The company has a 50-day simple moving average of $208.55 and a 200-day simple moving average of $188.46. The stock has a market capitalization of $8.57 billion, a PE ratio of 14.24, a PEG ratio of 1.10 and a beta of 0.89.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.76. The company had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.77 billion. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. AutoNation's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.99 EPS. As a group, equities analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current year.

Wall Street Analysts Forecast Growth

AN has been the topic of a number of recent research reports. Morgan Stanley increased their target price on AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Guggenheim lowered their target price on AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Wells Fargo & Company boosted their target price on AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Stephens lifted their price target on AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Bank of America lowered their target price on shares of AutoNation from $255.00 to $250.00 and set a "buy" rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoNation has an average rating of "Moderate Buy" and a consensus price target of $222.63.

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.