EMC Capital Management Sells 1,143 Shares of AutoNation, Inc. $AN

EMC Capital Management cut its stake in shares of AutoNation, Inc. (NYSE:AN) by 58.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 816 shares of the company’s stock after selling 1,143 shares during the quarter. EMC Capital Management’s holdings in AutoNation were worth $162,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AN. AQR Capital Management LLC lifted its position in AutoNation by 144.6% in the first quarter. AQR Capital Management LLC now owns 416,167 shares of the company’s stock valued at $65,950,000 after purchasing an additional 245,994 shares during the last quarter. Nuveen LLC purchased a new position in shares of AutoNation in the first quarter worth $36,060,000. Vanguard Group Inc. raised its holdings in AutoNation by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 3,256,308 shares of the company’s stock valued at $527,261,000 after buying an additional 219,474 shares during the last quarter. Boston Partners boosted its position in AutoNation by 8.3% during the 1st quarter. Boston Partners now owns 1,964,187 shares of the company’s stock valued at $318,749,000 after buying an additional 149,959 shares during the period. Finally, Woodline Partners LP purchased a new stake in AutoNation during the 1st quarter valued at $10,865,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Up 2.2%

Shares of NYSE:AN opened at $197.49 on Wednesday. The firm has a market capitalization of $7.20 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.91 and a beta of 0.87. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. The stock has a 50 day moving average price of $210.33 and a 200-day moving average price of $203.19. AutoNation, Inc. has a 52-week low of $148.33 and a 52-week high of $228.92.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $5.01 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.16. The company had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.74 billion. AutoNation had a return on equity of 31.84% and a net margin of 2.38%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.02 earnings per share. As a group, equities research analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation declared that its Board of Directors has initiated a share repurchase plan on Friday, October 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AN. JPMorgan Chase & Co. upped their price objective on shares of AutoNation from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Stephens upped their price target on AutoNation from $190.00 to $200.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Guggenheim cut their price objective on AutoNation from $230.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Weiss Ratings reissued a “buy (b)” rating on shares of AutoNation in a research note on Thursday, November 13th. Finally, Wells Fargo & Company cut their price target on shares of AutoNation from $221.00 to $220.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.44.

About AutoNation

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.