Private Management Group Inc. Buys 66,929 Shares of AutoNation, Inc. $AN

Key Points

• Private Management Group increased its AutoNation stake 85.9% in the third quarter, buying 66,929 shares to hold 144,808 shares worth about $22.8 million. Institutional investors collectively own 94.62% of the company.
• AutoNation’s latest quarter modestly beat estimates, reporting $5.11 earnings per share and $7.01 billion in revenue; revenue declined 0.4% year over year.
• Analysts’ consensus rating is “Hold,” with an average price target of $228.20. Company insiders also bought 1,611 shares worth about $298,000 over the past 90 days.

Private Management Group Inc. lifted its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 85.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 144,808 shares of the company's stock after acquiring an additional 66,929 shares during the quarter. Private Management Group Inc. owned 0.45% of AutoNation worth $22,799,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fulcrum Asset Management LLP purchased a new stake in AutoNation in the third quarter valued at approximately $231,000. Ethic Inc. lifted its stake in AutoNation by 13.2% during the third quarter. Ethic Inc. now owns 3,805 shares of the company's stock worth $599,000 after purchasing an additional 443 shares in the last quarter. Heritage Family Offices LLP purchased a new position in shares of AutoNation during the third quarter worth $67,000. Kestra Advisory Services LLC boosted its position in shares of AutoNation by 2.3% during the third quarter. Kestra Advisory Services LLC now owns 5,757 shares of the company's stock worth $906,000 after buying an additional 127 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of AutoNation by 2.9% in the third quarter. Commonwealth Equity Services LLC now owns 7,664 shares of the company's stock valued at $1,207,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company's stock.

More AutoNation News

Here are the key news stories impacting AutoNation this week:

• Positive Sentiment: CFO Thomas A. Szlosek bought 1,081 shares across November 5 and 6 for about $199,801, increasing his holdings. Director Jacqueline Travisano also purchased 530 shares for about $98,204. These open-market purchases may indicate confidence in AutoNation’s prospects. CFO SEC filing Director SEC filing
• Neutral Sentiment: Morgan Stanley raised its price target from $175 to $182 but kept an “equal weight” rating. The new target is still below the cited share price of $186.31, tempering the benefit of the increase. Morgan Stanley analyst recommendations

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AN shares. Wells Fargo & Company boosted their price objective on AutoNation from $202.00 to $224.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Morgan Stanley raised their target price on AutoNation from $175.00 to $182.00 and gave the company an "equal weight" rating in a report on Monday. Stephens lifted their target price on AutoNation from $220.00 to $232.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Citigroup dropped their target price on AutoNation from $255.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, November 3rd. Finally, Argus boosted their price target on shares of AutoNation from $241.00 to $246.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $228.20.

Insider Buying and Selling at AutoNation

In related news, Director Jacqueline A. Travisano purchased 530 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The shares were purchased at an average cost of $185.29 per share, for a total transaction of $98,203.70. Following the purchase, the director directly owned 9,419 shares of the company's stock, valued at $1,745,246.51. The trade was a 5.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas A. Szlosek purchased 541 shares of the business's stock in a transaction that occurred on Friday, November 6th. The shares were bought at an average price of $184.56 per share, for a total transaction of $99,846.96. Following the completion of the purchase, the chief financial officer directly owned 21,166 shares in the company, valued at $3,906,396.96. This represents a 2.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 1,611 shares of company stock valued at $298,005. Company insiders own 1.40% of the company's stock.

AutoNation Price Performance

AN stock opened at $186.31 on Tuesday. The business has a 50 day moving average price of $175.23 and a 200 day moving average price of $192.81. The company has a quick ratio of 0.18, a current ratio of 0.77 and a debt-to-equity ratio of 2.74. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.94 and a beta of 0.82. AutoNation, Inc. has a fifty-two week low of $151.82 and a fifty-two week high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $5.11 EPS for the quarter, beating the consensus estimate of $5.08 by $0.03. AutoNation had a net margin of 2.63% and a return on equity of 31.18%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm posted $5.01 earnings per share. The firm's revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that AutoNation, Inc. will post 20.96 earnings per share for the current fiscal year.

About AutoNation

AutoNation, Inc is a U.S. automotive retailer that sells new and used vehicles through a network of dealerships. Its stores offer vehicles from a range of manufacturers, along with related products and services.

The company also provides vehicle maintenance and repair, parts, and collision-repair services. Its offerings include financing and insurance products, as well as online tools that support vehicle research and purchasing.

Founded in 1996, AutoNation operates dealerships across the United States, with a presence concentrated in the Sun Belt.

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