Hsbc Holdings PLC Raises Stock Position in AutoNation, Inc. $AN

Hsbc Holdings PLC increased its position in shares of AutoNation, Inc. (NYSE:AN) by 3,322.8% in the 4th quarter, HoldingsChannel reports. The fund owned 62,946 shares of the company’s stock after acquiring an additional 61,107 shares during the period. Hsbc Holdings PLC’s holdings in AutoNation were worth $12,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake 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 in the last quarter. Norges Bank acquired a new position in shares of AutoNation during the fourth quarter worth $69,319,000. Arrowstreet Capital Limited Partnership increased its position in shares of AutoNation by 260.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 333,975 shares of the company’s stock worth $73,064,000 after purchasing an additional 241,265 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of AutoNation by 51.8% during the 2nd quarter. AQR Capital Management LLC now owns 631,744 shares of the company’s stock valued at $125,439,000 after purchasing an additional 215,577 shares during the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of AutoNation by 38.3% during the 3rd quarter. Holocene Advisors LP now owns 548,677 shares of the company’s stock valued at $120,034,000 after purchasing an additional 151,966 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $240.00 price objective on shares of AutoNation in a research report on Thursday, May 7th. Weiss Ratings raised AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Citigroup increased their price target on AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wells Fargo & Company lowered their price target on AutoNation from $208.00 to $202.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Barclays boosted their price target on AutoNation from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.30.

Insider Buying and Selling at AutoNation

In other 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 value of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares in the company, valued at $298,348.96. This trade represents a 63.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

AutoNation Trading Up 0.5%

NYSE:AN opened at $191.63 on Wednesday. The company has a market capitalization of $6.41 billion, a P/E ratio of 10.38, a PEG ratio of 1.02 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. AutoNation, Inc. has a 12 month low of $176.62 and a 12 month high of $228.92. The firm has a fifty day simple moving average of $192.38 and a 200-day simple moving average of $199.04.

AutoNation (NYSE:AN) last issued its earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter last year, the business earned $4.68 EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts anticipate that AutoNation, Inc. will post 21.24 earnings per share for the current year.

AutoNation 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.