Bessemer Group Inc. boosted its stake in AutoNation, Inc. (NYSE:AN) by 718.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,120 shares of the company’s stock after purchasing an additional 2,739 shares during the quarter. Bessemer Group Inc.’s holdings in AutoNation were worth $131,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Hi Line Capital Management LLC boosted its stake in shares of AutoNation by 2.1% in the first quarter. Hi Line Capital Management LLC now owns 109,676 shares of the company’s stock valued at $3,918,000 after purchasing an additional 2,221 shares during the period. Private Management Group Inc. raised its holdings in AutoNation by 1.0% in the first quarter. Private Management Group Inc. now owns 890,152 shares of the company’s stock valued at $31,796,000 after acquiring an additional 8,748 shares in the last quarter. Townsend & Associates Inc raised its holdings in AutoNation by 18.4% in the second quarter. Townsend & Associates Inc now owns 23,822 shares of the company’s stock valued at $1,014,000 after acquiring an additional 3,700 shares in the last quarter. CenturyLink Investment Management Co raised its holdings in AutoNation by 1.8% in the first quarter. CenturyLink Investment Management Co now owns 31,357 shares of the company’s stock valued at $1,120,000 after acquiring an additional 564 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in AutoNation in the fourth quarter valued at $3,332,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.
Several analysts recently issued reports on the stock. Longbow Research reaffirmed a “hold” rating on shares of AutoNation in a report on Sunday, July 7th. TheStreet raised shares of AutoNation from a “c+” rating to a “b” rating in a report on Tuesday, July 23rd. ValuEngine cut shares of AutoNation from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley upped their price target on shares of AutoNation from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Finally, SunTrust Banks upped their price target on shares of AutoNation to $43.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.38.
AutoNation (NYSE:AN) last issued its earnings results on Monday, July 22nd. The company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.29 billion. AutoNation had a net margin of 1.89% and a return on equity of 15.10%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. Sell-side analysts expect that AutoNation, Inc. will post 4.44 EPS for the current fiscal year.
In other news, COO James R. Bender sold 767 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $48.35, for a total transaction of $37,084.45. Following the completion of the transaction, the chief operating officer now owns 2,318 shares in the company, valued at $112,075.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael J. Jackson sold 37,104 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $41.93, for a total transaction of $1,555,770.72. Following the transaction, the chairman now owns 204,790 shares of the company’s stock, valued at approximately $8,586,844.70. The disclosure for this sale can be found here. Insiders have sold 1,671,678 shares of company stock valued at $79,427,712 in the last 90 days. Insiders own 2.40% of the company’s stock.
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.
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