Greenland Capital Management LP Acquires Shares of 43,498 AutoNation, Inc. $AN

Greenland Capital Management LP bought a new position in AutoNation, Inc. (NYSE:AN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 43,498 shares of the company’s stock, valued at approximately $8,641,000. AutoNation makes up approximately 0.9% of Greenland Capital Management LP’s portfolio, making the stock its 24th largest holding. Greenland Capital Management LP owned 0.12% of AutoNation as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AN. Geneos Wealth Management Inc. increased its stake in shares of AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after acquiring an additional 64 shares in the last quarter. Parallel Advisors LLC boosted its holdings in AutoNation by 45.3% in the second quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock worth $74,000 after acquiring an additional 117 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of AutoNation in the first quarter worth $86,000. IFP Advisors Inc increased its holdings in shares of AutoNation by 38.0% during the second quarter. IFP Advisors Inc now owns 508 shares of the company’s stock valued at $101,000 after acquiring an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of AutoNation by 33.3% during the second quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock valued at $122,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AN. Wall Street Zen downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Bank of America cut their price target on shares of AutoNation from $255.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of AutoNation from $230.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Citigroup lifted their target price on AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Wells Fargo & Company dropped their price objective on AutoNation from $221.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.44.

AutoNation Stock Performance

AN opened at $197.49 on Wednesday. The company’s 50 day moving average is $210.33 and its 200 day moving average is $203.19. The company has a current ratio of 0.79, a quick ratio of 0.20 and a debt-to-equity ratio of 1.93. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.91 and a beta of 0.87. AutoNation, Inc. has a 12-month low of $148.33 and a 12-month high of $228.92.

AutoNation (NYSE:AN) last released 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. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same period last year, the firm earned $4.02 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that AutoNation, Inc. will post 18.15 EPS for the current year.

AutoNation announced that its board has initiated a stock buyback program on Friday, October 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.