Nationwide Fund Advisors Purchases 91,329 Shares of AutoNation, Inc. (AN)

Nationwide Fund Advisors increased its position in shares of AutoNation, Inc. (NYSE:AN) by 300.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,771 shares of the company’s stock after buying an additional 91,329 shares during the quarter. Nationwide Fund Advisors owned 0.12% of AutoNation worth $5,779,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its holdings in AutoNation by 76.5% during the second quarter. Artisan Partners Limited Partnership now owns 5,181,954 shares of the company’s stock valued at $218,471,000 after purchasing an additional 2,245,935 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in AutoNation by 175,288.8% during the second quarter. Victory Capital Management Inc. now owns 2,090,635 shares of the company’s stock valued at $88,142,000 after purchasing an additional 2,089,443 shares in the last quarter. Arlington Value Capital LLC boosted its holdings in AutoNation by 284.0% during the second quarter. Arlington Value Capital LLC now owns 2,096,311 shares of the company’s stock valued at $88,380,000 after purchasing an additional 1,550,426 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in AutoNation by 141.7% during the second quarter. Orbis Allan Gray Ltd now owns 2,444,847 shares of the company’s stock valued at $103,075,000 after purchasing an additional 1,433,472 shares in the last quarter. Finally, Strs Ohio boosted its holdings in AutoNation by 374.5% during the third quarter. Strs Ohio now owns 1,071,018 shares of the company’s stock valued at $50,830,000 after purchasing an additional 845,313 shares in the last quarter. 77.81% of the stock is currently owned by institutional investors and hedge funds.

AutoNation, Inc. (AN) opened at $54.48 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. AutoNation, Inc. has a 1 year low of $38.20 and a 1 year high of $57.83. The firm has a market cap of $5,059.47, a P/E ratio of 14.36, a P/E/G ratio of 2.30 and a beta of 1.28.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter in the previous year, the company posted $1.05 EPS. AutoNation’s revenue was down 2.4% on a year-over-year basis. analysts expect that AutoNation, Inc. will post 3.75 earnings per share for the current fiscal year.

AutoNation announced that its board has approved a share buyback plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other AutoNation news, major shareholder Edward S. Lampert sold 3,480 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $55.61, for a total transaction of $193,522.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Lance E. Iserman sold 5,886 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $52.46, for a total transaction of $308,779.56. Following the sale, the chief operating officer now owns 4,860 shares of the company’s stock, valued at approximately $254,955.60. The disclosure for this sale can be found here. Insiders sold a total of 12,733 shares of company stock valued at $676,747 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on AN shares. KeyCorp reissued a “hold” rating on shares of AutoNation in a report on Friday, September 1st. ValuEngine downgraded AutoNation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group reissued a “hold” rating and issued a $44.00 target price on shares of AutoNation in a report on Sunday, September 10th. UBS downgraded AutoNation from a “positive” rating to a “neutral” rating in a report on Thursday, September 28th. Finally, Susquehanna Bancshares reissued a “negative” rating on shares of AutoNation in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. AutoNation has an average rating of “Hold” and an average price target of $46.88.

TRADEMARK VIOLATION NOTICE: “Nationwide Fund Advisors Purchases 91,329 Shares of AutoNation, Inc. (AN)” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The original version of this piece can be read at https://sportsperspectives.com/2017/12/13/nationwide-fund-advisors-purchases-91329-shares-of-autonation-inc-an.html.

AutoNation Company Profile

AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.

Institutional Ownership by Quarter for AutoNation (NYSE:AN)

Receive News & Ratings for AutoNation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoNation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply