Private Management Group Inc. Has $16.49 Million Stock Position in AutoNation, Inc. $AN

Key Points

• Private Management Group Inc. cut its AutoNation stake by 13.8% in the fourth quarter, leaving it with 79,873 shares valued at about $16.49 million. Institutional investors still own a dominant 94.62% of the company.
• AutoNation reported mixed quarterly results, with earnings per share of $4.69 missing estimates by $0.02 and revenue of $6.55 billion coming in below forecasts. Revenue fell 2.1% year over year, though net margin and return on equity remained solid.
• Wall Street sentiment is still broadly positive, with multiple firms issuing or maintaining buy/overweight ratings and a consensus target price of $246.90. Separately, CAO Kimberly Dees sold 2,500 shares in May, reducing her ownership by 63.2%.

Private Management Group Inc. decreased its position in AutoNation, Inc. (NYSE:AN - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,873 shares of the company's stock after selling 12,756 shares during the period. Private Management Group Inc. owned about 0.22% of AutoNation worth $16,492,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its position in shares of AutoNation by 0.9% in the third quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company's stock valued at $1,376,000 after buying an additional 55 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of AutoNation by 13.3% in the third quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company's stock valued at $114,000 after buying an additional 61 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after buying an additional 64 shares in the last quarter. Crestwood Advisors Group LLC raised its position in shares of AutoNation by 3.2% in the third quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company's stock valued at $454,000 after buying an additional 64 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA raised its position in shares of AutoNation by 3.6% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 2,183 shares of the company's stock valued at $451,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company's stock.

Insider Activity

In other news, CAO Kimberly Dees sold 2,500 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total transaction of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares in the company, valued at approximately $298,348.96. This represents a 63.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company's stock.

AutoNation Trading Up 0.2%

AN opened at $193.50 on Friday. The company's 50 day moving average is $196.26 and its 200-day moving average is $201.91. AutoNation, Inc. has a 1-year low of $176.62 and a 1-year high of $228.92. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62. The company has a market cap of $6.47 billion, a P/E ratio of 10.48, a PEG ratio of 1.03 and a beta of 0.74.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $4.69 earnings per share for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the business posted $4.68 earnings per share. The company's revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts predict that AutoNation, Inc. will post 21.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. UBS Group started coverage on shares of AutoNation in a research report on Wednesday, May 27th. They issued a "buy" rating and a $234.00 price target for the company. Bank of America started coverage on shares of AutoNation in a research report on Wednesday, March 4th. They set a "buy" rating for the company. Morgan Stanley restated an "overweight" rating and set a $240.00 target price on shares of AutoNation in a research note on Thursday, May 7th. Finally, Wells Fargo & Company upped their target price on AutoNation from $207.00 to $208.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AutoNation currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.90.

AutoNation Profile

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.

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