Redwood Investment Management LLC Takes Position in AutoNation, Inc. $AN

Redwood Investment Management LLC purchased a new stake in AutoNation, Inc. (NYSE:AN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,305 shares of the company’s stock, valued at approximately $1,171,000.

Several other large investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in AutoNation by 192,434.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,424,431 shares of the company’s stock valued at $913,557,000 after acquiring an additional 4,422,133 shares during the period. BlackRock Inc. purchased a new position in shares of AutoNation in the 2nd quarter valued at about $438,689,000. Norges Bank acquired a new stake in shares of AutoNation in the fourth quarter valued at about $69,319,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of AutoNation by 260.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 333,975 shares of the company’s stock valued at $73,064,000 after purchasing an additional 241,265 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in AutoNation by 51.8% during the second quarter. AQR Capital Management LLC now owns 631,744 shares of the company’s stock worth $125,439,000 after buying an additional 215,577 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Price Performance

Shares of NYSE AN opened at $196.37 on Thursday. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.82 and a beta of 0.71. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81. The company’s 50-day moving average price is $200.86 and its 200 day moving average price is $197.51. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN) last announced its earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business posted $2.26 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total transaction of $198,000.00. Following the completion of the transaction, the director directly owned 7,989 shares in the company, valued at $1,757,580. The trade was a 10.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of AutoNation from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 17th. UBS Group reiterated a “buy” rating and set a $248.00 price target on shares of AutoNation in a research report on Monday, August 3rd. Wells Fargo & Company boosted their price target on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Citigroup upped their price target on AutoNation from $287.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Argus raised their price objective on AutoNation from $241.00 to $246.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

About AutoNation

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.