Woodline Partners LP Makes New $10.87 Million Investment in AutoNation, Inc. $AN

Key Points

• Woodline Partners LP acquired 67,102 shares of AutoNation, Inc. for approximately $10.9 million, representing 0.18% of the company as of the latest reporting period.
• Several financial institutions, including Stifel Financial Corp and Millennium Management LLC, have made significant adjustments to their holdings in AutoNation, with 94.62% of the stock being owned by hedge funds and other institutional investors.
• Research analysts have set a consensus target price of $222.63 for AutoNation, with upgrades from multiple firms, reflecting growing optimism about the company's performance.

Woodline Partners LP purchased a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 67,102 shares of the company's stock, valued at approximately $10,865,000. Woodline Partners LP owned about 0.18% of AutoNation as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of AutoNation by 144.6% during the first quarter. AQR Capital Management LLC now owns 416,167 shares of the company's stock valued at $65,950,000 after purchasing an additional 245,994 shares during the period. Nuveen LLC bought a new stake in shares of AutoNation during the first quarter valued at approximately $36,060,000. Vanguard Group Inc. boosted its holdings in shares of AutoNation by 7.2% in the first quarter. Vanguard Group Inc. now owns 3,256,308 shares of the company's stock valued at $527,261,000 after purchasing an additional 219,474 shares during the period. Boston Partners grew its stake in AutoNation by 8.3% in the first quarter. Boston Partners now owns 1,964,187 shares of the company's stock worth $318,749,000 after purchasing an additional 149,959 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in AutoNation by 253.0% during the 4th quarter. Voloridge Investment Management LLC now owns 172,264 shares of the company's stock valued at $29,257,000 after purchasing an additional 123,466 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company's stock.

AutoNation Stock Performance

Shares of AN traded down $1.98 during trading hours on Monday, reaching $220.00. 426,194 shares of the company traded hands, compared to its average volume of 477,244. 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 has a fifty day moving average price of $209.04 and a 200-day moving average price of $189.15. AutoNation, Inc. has a 12-month low of $148.33 and a 12-month high of $228.92. The stock has a market capitalization of $8.30 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.02 and a beta of 0.89.

AutoNation (NYSE:AN - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.76. The company had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.77 billion. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.99 EPS. Equities analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AN shares. Stephens lifted their price objective on AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley boosted their price objective on shares of AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Bank of America decreased their price target on shares of AutoNation from $255.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Guggenheim cut their price target on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Wall Street Zen lowered AutoNation from a "buy" rating to a "hold" rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.63.

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.