AutoNation, Inc. $AN Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its position in shares of AutoNation, Inc. (NYSE:AN) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,350 shares of the company’s stock after selling 4,300 shares during the quarter. Gabelli Funds LLC owned approximately 0.69% of AutoNation worth $44,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of AutoNation during the fourth quarter worth $41,000. Employees Retirement System of Texas acquired a new stake in shares of AutoNation during the third quarter worth $48,000. Smartleaf Asset Management LLC grew its position in shares of AutoNation by 49.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 259 shares of the company’s stock valued at $54,000 after purchasing an additional 86 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in shares of AutoNation in the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Stock Up 1.6%

Shares of AutoNation stock opened at $208.28 on Friday. AutoNation, Inc. has a twelve month low of $176.62 and a twelve month high of $228.92. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.87 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62. The company has a fifty day moving average price of $192.22 and a 200 day moving average price of $198.30.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.71 by ($0.02). The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.65 billion. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $4.68 earnings per share. Equities research analysts forecast that AutoNation, Inc. will post 21.41 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Kimberly Dees sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total transaction of $512,275.00. Following the sale, the chief accounting officer directly owned 1,456 shares in the company, valued at approximately $298,348.96. This trade represents a 63.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AN. Weiss Ratings upgraded AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. UBS Group initiated coverage on AutoNation in a report on Wednesday, May 27th. They issued a “buy” rating and a $234.00 price target for the company. Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price objective on the stock in a report on Tuesday, July 14th. Wells Fargo & Company decreased their target price on shares of AutoNation from $208.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Monday, July 6th. Finally, Barclays boosted their target price on shares of AutoNation from $255.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, AutoNation has an average rating of “Moderate Buy” and a consensus price target of $246.18.

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.