Sheaff Brock Investment Advisors LLC Takes Position in AutoNation, Inc. (AN)
Sheaff Brock Investment Advisors LLC acquired a new position in shares of AutoNation, Inc. (NYSE:AN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,468 shares of the company’s stock, valued at approximately $212,000.
A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in AutoNation by 10.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,683,569 shares of the company’s stock worth $127,360,000 after acquiring an additional 248,512 shares during the last quarter. Commonwealth Bank of Australia lifted its position in AutoNation by 11.8% during the 3rd quarter. Commonwealth Bank of Australia now owns 38,034 shares of the company’s stock valued at $1,800,000 after purchasing an additional 4,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in AutoNation by 94.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,524 shares of the company’s stock valued at $452,000 after purchasing an additional 4,634 shares during the period. JPMorgan Chase & Co. lifted its position in AutoNation by 32.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,971 shares of the company’s stock valued at $2,834,000 after purchasing an additional 14,656 shares during the period. Finally, Legal & General Group Plc lifted its position in AutoNation by 8.9% during the 3rd quarter. Legal & General Group Plc now owns 419,546 shares of the company’s stock valued at $19,912,000 after purchasing an additional 34,117 shares during the period. 77.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on AN. Wells Fargo & Company restated a “market perform” rating and set a $50.00 target price (up from $40.00) on shares of AutoNation in a research report on Monday, November 6th. Susquehanna Bancshares restated a “negative” rating on shares of AutoNation in a research report on Thursday, September 28th. ValuEngine upgraded shares of AutoNation from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Jefferies Group upped their target price on shares of AutoNation from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Finally, BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. AutoNation presently has an average rating of “Hold” and a consensus target price of $46.88.
Shares of AutoNation, Inc. (NYSE:AN) opened at $55.28 on Thursday. The firm has a market cap of $5,095.05, a P/E ratio of 14.47, a P/E/G ratio of 2.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.17. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $57.83.
AutoNation (NYSE:AN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.16. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.58 billion. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. AutoNation’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. research analysts predict that AutoNation, Inc. will post 3.76 earnings per share for the current fiscal year.
AutoNation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, COO Lance E. Iserman sold 5,886 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $52.46, for a total value of $308,779.56. Following the sale, the chief operating officer now directly owns 4,860 shares in the company, valued at approximately $254,955.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donna L. Parlapiano sold 3,367 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $51.81, for a total transaction of $174,444.27. Following the completion of the sale, the executive vice president now owns 11,469 shares in the company, valued at $594,208.89. The disclosure for this sale can be found here. Insiders sold a total of 12,733 shares of company stock worth $676,747 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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