Renaissance Technologies LLC Sells 14,500 Shares of AutoNation, Inc. $AN

Key Points

• Renaissance Technologies reduced its AutoNation stake by 13.7%, selling 14,500 shares and retaining 91,500 shares valued at approximately $17.9 million. Institutional investors collectively own 94.62% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $246.18. Recent targets range from $202 at Wells Fargo to $287 at Citigroup.
• AutoNation shares opened at $216.67, while the company’s latest quarterly results narrowly missed estimates: EPS was $4.69 versus $4.71 expected, and revenue fell 2.1% year over year to $6.55 billion.

Renaissance Technologies LLC lessened its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,500 shares of the company's stock after selling 14,500 shares during the period. Renaissance Technologies LLC owned approximately 0.27% of AutoNation worth $17,866,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AN. Brandywine Global Investment Management LLC boosted its position in shares of AutoNation by 27.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 57,269 shares of the company's stock worth $11,825,000 after purchasing an additional 12,210 shares in the last quarter. Intech Investment Management LLC increased its position in AutoNation by 180.1% in the 4th quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock valued at $2,727,000 after buying an additional 8,491 shares in the last quarter. WINTON GROUP Ltd acquired a new position in AutoNation during the 4th quarter worth approximately $6,443,000. Leonteq Securities AG acquired a new position in AutoNation during the 4th quarter worth approximately $2,247,000. Finally, Evolve Private Wealth LLC bought a new position in AutoNation in the fourth quarter worth approximately $4,077,000. 94.62% of the stock is owned by institutional investors.

Insider Buying and Selling at AutoNation

In related news, CAO Kimberly Dees sold 2,500 shares of the firm's 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 completion of the sale, the chief accounting officer owned 1,456 shares in the company, valued at approximately $298,348.96. This trade represents a 63.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AN shares. Wells Fargo & Company lowered their target price on AutoNation from $208.00 to $202.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. Weiss Ratings raised shares of AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. UBS Group assumed coverage on shares of AutoNation in a research note on Wednesday, May 27th. They set a "buy" rating and a $234.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $240.00 price objective on shares of AutoNation in a research note on Thursday, May 7th. Finally, Citigroup lifted their price objective on shares of AutoNation from $269.00 to $287.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $246.18.

AutoNation Price Performance

Shares of NYSE AN opened at $216.67 on Friday. AutoNation, Inc. has a twelve month low of $176.62 and a twelve month high of $235.81. The stock's 50 day moving average price is $195.17 and its 200-day moving average price is $198.38. The company has a market capitalization of $7.25 billion, a PE ratio of 11.74, a PEG ratio of 0.97 and a beta of 0.75. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62.

AutoNation (NYSE:AN - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $4.69 EPS 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 business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.65 billion. During the same period in the previous year, the business posted $4.68 earnings per share. The business's revenue was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that AutoNation, Inc. will post 21.41 EPS for the current year.

AutoNation Company 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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