Pacer Advisors Inc. Trims Stock Holdings in AutoNation, Inc. (NYSE:AN)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in AutoNation by 65.8% during the first quarter, now holding only 1,896 shares valued at approximately $307,000.
• Despite Pacer's sell-off, **institutional ownership remains high** at 94.62%, with other investors like Curat Global LLC and GAMMA Investing LLC increasing their positions in AutoNation.
• AutoNation recently reported a earnings per share (EPS) of $5.46 for the quarter, surpassing analyst estimates, and its stock received upgraded ratings from multiple research analysts.

Pacer Advisors Inc. lessened its holdings in AutoNation, Inc. (NYSE:AN - Free Report) by 65.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,896 shares of the company's stock after selling 3,653 shares during the quarter. Pacer Advisors Inc.'s holdings in AutoNation were worth $307,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Curat Global LLC bought a new stake in AutoNation in the first quarter worth approximately $36,000. NewEdge Advisors LLC grew its stake in shares of AutoNation by 25.5% in the 4th quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock valued at $54,000 after buying an additional 64 shares during the period. GAMMA Investing LLC raised its stake in AutoNation by 81.1% during the 1st 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. UMB Bank n.a. boosted its holdings in AutoNation by 56.8% in the first quarter. UMB Bank n.a. now owns 839 shares of the company's stock worth $136,000 after acquiring an additional 304 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew 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 acquiring an additional 816 shares during the period. Institutional investors own 94.62% of the company's stock.

AutoNation Trading Up 2.8%

Shares of NYSE:AN traded up $5.21 during midday trading on Tuesday, hitting $194.48. 302,925 shares of the stock traded hands, compared to its average volume of 491,053. The company has a quick ratio of 0.21, a current ratio of 0.81 and a debt-to-equity ratio of 1.84. The business's 50 day moving average is $197.23 and its two-hundred day moving average is $183.89. The stock has a market capitalization of $7.33 billion, a PE ratio of 12.19, a P/E/G ratio of 0.96 and a beta of 0.89. AutoNation, Inc. has a one year low of $148.33 and a one year high of $217.40.

AutoNation (NYSE:AN - Get Free Report) last issued its quarterly earnings data 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. AutoNation had a return on equity of 31.12% and a net margin of 2.31%. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company earned $3.99 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that AutoNation, Inc. will post 18.15 earnings per share for the current year.

Analyst Ratings Changes

AN has been the topic of a number of recent research reports. Citigroup raised shares of AutoNation to a "strong-buy" rating in a research note on Thursday, April 24th. Wall Street Zen raised AutoNation from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Bank of America lifted their price target on AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Wells Fargo & Company upped their price target on AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Cfra Research upgraded shares of AutoNation to a "strong-buy" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.13.

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.