QRG Capital Management Inc. Buys 6,929 Shares of AutoNation, Inc. $AN

Key Points

• QRG Capital Management boosted its AutoNation stake by 274.3% in the fourth quarter, buying 6,929 additional shares and bringing its total holding to 9,455 shares worth about $1.95 million.
• Institutional ownership remains heavy, with 94.62% of AutoNation shares held by institutional investors, while insider ownership is relatively low at 1.40%.
• AutoNation reported mixed quarterly results: EPS of $4.69 missed estimates by $0.02 and revenue of $6.55 billion fell short of expectations, though analysts still largely rate the stock a Moderate Buy with a consensus target price of $246.33.

QRG Capital Management Inc. grew its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 274.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,455 shares of the company's stock after buying an additional 6,929 shares during the period. QRG Capital Management Inc.'s holdings in AutoNation were worth $1,952,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in shares of AutoNation during the 3rd quarter worth about $37,000. Smartleaf Asset Management LLC boosted its holdings in shares of AutoNation by 355.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 173 shares of the company's stock worth $38,000 after acquiring an additional 135 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock worth $38,000 after purchasing an additional 64 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in AutoNation during the 4th quarter worth about $41,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of AutoNation in the third quarter valued at approximately $48,000. 94.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AutoNation news, CAO Kimberly Dees sold 2,500 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total transaction of $512,275.00. Following the sale, the chief accounting officer directly owned 1,456 shares in the company, valued at $298,348.96. This represents a 63.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

AutoNation Stock Up 0.3%

AN stock opened at $205.37 on Friday. AutoNation, Inc. has a fifty-two week low of $175.80 and a fifty-two week high of $228.92. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.81 and a quick ratio of 0.22. The business's fifty day moving average price is $196.34 and its two-hundred day moving average price is $203.44. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.09 and a beta of 0.79.

AutoNation (NYSE:AN - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.65 billion. AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The business's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.68 EPS. On average, equities analysts anticipate that AutoNation, Inc. will post 21.27 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup lowered their price objective on AutoNation from $280.00 to $269.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Weiss Ratings raised AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Morgan Stanley restated an "overweight" rating and set a $240.00 target price on shares of AutoNation in a report on Thursday. Stephens boosted their price objective on shares of AutoNation from $228.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 11th. Finally, Barclays increased their price target on AutoNation from $240.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $246.33.

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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