Asset Management One Co. Ltd. trimmed its stake in AutoNation, Inc. (NYSE:AN) by 5.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,983 shares of the company’s stock after selling 6,411 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.13% of AutoNation worth $5,741,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of AutoNation by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after buying an additional 24 shares during the period. State of Tennessee Treasury Department boosted its position in shares of AutoNation by 0.5% in the second quarter. State of Tennessee Treasury Department now owns 18,002 shares of the company’s stock worth $759,000 after buying an additional 84 shares during the period. Arizona State Retirement System boosted its position in shares of AutoNation by 0.6% in the second quarter. Arizona State Retirement System now owns 16,291 shares of the company’s stock worth $687,000 after buying an additional 100 shares during the period. Retirement Systems of Alabama boosted its position in shares of AutoNation by 0.7% in the second quarter. Retirement Systems of Alabama now owns 31,914 shares of the company’s stock worth $1,345,000 after buying an additional 209 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of AutoNation by 8.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after buying an additional 372 shares during the period. Institutional investors and hedge funds own 77.74% of the company’s stock.
AutoNation, Inc. (NYSE AN) opened at $53.79 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.17. The company has a market capitalization of $4,796.69, a PE ratio of 13.62, a PEG ratio of 2.18 and a beta of 1.28. AutoNation, Inc. has a 12 month low of $38.20 and a 12 month high of $57.83.
AutoNation announced that its board has authorized a share repurchase plan on Tuesday, August 29th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
AN has been the subject of a number of research reports. KeyCorp reissued a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. ValuEngine cut AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group reissued a “hold” rating and set a $44.00 price objective on shares of AutoNation in a research report on Sunday, September 10th. UBS cut AutoNation from a “positive” rating to a “neutral” rating in a research report on Thursday, September 28th. Finally, Susquehanna Bancshares reissued a “negative” rating on shares of AutoNation in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $46.88.
In related news, major shareholder Edward S. Lampert sold 3,480 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $55.61, for a total transaction of $193,522.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Lance E. Iserman sold 5,886 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $52.46, for a total value of $308,779.56. Following the transaction, the chief operating officer now owns 4,860 shares in the company, valued at $254,955.60. The disclosure for this sale can be found here. Insiders sold 12,733 shares of company stock worth $676,747 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.
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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.
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