Texas Permanent School Fund reduced its position in shares of AutoNation, Inc. (NYSE:AN) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,188 shares of the company’s stock after selling 1,923 shares during the period. Texas Permanent School Fund’s holdings in AutoNation were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in AN. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of AutoNation by 1,960.6% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,597,000 shares of the company’s stock worth $77,582,000 after purchasing an additional 1,519,500 shares during the last quarter. United Services Automobile Association grew its holdings in shares of AutoNation by 544.4% during the second quarter. United Services Automobile Association now owns 665,879 shares of the company’s stock worth $87,290,000 after purchasing an additional 562,540 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of AutoNation by 8.8% during the second quarter. Victory Capital Management Inc. now owns 3,512,036 shares of the company’s stock worth $170,615,000 after purchasing an additional 283,775 shares during the last quarter. Millennium Management LLC grew its holdings in shares of AutoNation by 91.6% during the second quarter. Millennium Management LLC now owns 424,816 shares of the company’s stock worth $20,638,000 after purchasing an additional 203,153 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of AutoNation by 2.1% during the second quarter. Artisan Partners Limited Partnership now owns 5,015,761 shares of the company’s stock worth $243,666,000 after purchasing an additional 101,833 shares during the last quarter. Institutional investors own 66.00% of the company’s stock.
In other AutoNation news, Director Rick L. Burdick sold 4,808 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $47.00, for a total value of $225,976.00. Following the transaction, the director now directly owns 38,686 shares of the company’s stock, valued at $1,818,242. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Jackson sold 74,208 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $40.69, for a total value of $3,019,523.52. Following the completion of the transaction, the chief executive officer now directly owns 168,205 shares in the company, valued at $6,844,261.45. The disclosure for this sale can be found here. Insiders sold 79,116 shares of company stock worth $3,250,200 over the last quarter. 2.80% of the stock is currently owned by company insiders.
AutoNation (NYSE:AN) last announced its earnings results on Tuesday, October 30th. The company reported $1.24 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.24. AutoNation had a return on equity of 16.21% and a net margin of 2.10%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that AutoNation, Inc. will post 4.66 EPS for the current fiscal year.
Several research firms have recently weighed in on AN. SunTrust Banks began coverage on AutoNation in a report on Friday, August 24th. They set a “hold” rating and a $48.00 price target on the stock. Bank of America upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. ValuEngine cut AutoNation from a “sell” rating to a “strong sell” rating in a report on Monday, September 24th. Buckingham Research reduced their price target on AutoNation from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, August 2nd. Finally, TheStreet cut AutoNation from a “b-” rating to a “c+” rating in a report on Tuesday, September 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.83.
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AutoNation Company Profile
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.
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