JPMorgan Chase & Co. Boosts Stake in AutoNation, Inc. (AN)
JPMorgan Chase & Co. increased its position in AutoNation, Inc. (NYSE:AN) by 32.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,971 shares of the company’s stock after purchasing an additional 14,656 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of AutoNation worth $2,834,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in AutoNation by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,785,538 shares of the company’s stock worth $286,078,000 after purchasing an additional 147,424 shares during the period. Artisan Partners Limited Partnership lifted its position in AutoNation by 76.5% in the second quarter. Artisan Partners Limited Partnership now owns 5,181,954 shares of the company’s stock worth $218,471,000 after purchasing an additional 2,245,935 shares during the period. BlackRock Inc. lifted its position in AutoNation by 0.4% in the second quarter. BlackRock Inc. now owns 4,192,696 shares of the company’s stock worth $176,762,000 after purchasing an additional 17,314 shares during the period. Victory Capital Management Inc. lifted its position in AutoNation by 56.3% in the third quarter. Victory Capital Management Inc. now owns 3,266,677 shares of the company’s stock worth $155,036,000 after purchasing an additional 1,176,042 shares during the period. Finally, Orbis Allan Gray Ltd lifted its position in AutoNation by 141.7% in the second quarter. Orbis Allan Gray Ltd now owns 2,444,847 shares of the company’s stock worth $103,075,000 after purchasing an additional 1,433,472 shares during the period. 77.74% of the stock is owned by hedge funds and other institutional investors.
In other news, major shareholder Edward S. Lampert sold 3,480 shares of AutoNation stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $55.61, for a total transaction of $193,522.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donna L. Parlapiano sold 3,367 shares of AutoNation stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $51.81, for a total value of $174,444.27. Following the transaction, the executive vice president now owns 11,469 shares in the company, valued at approximately $594,208.89. The disclosure for this sale can be found here. Insiders have sold a total of 22,733 shares of company stock valued at $1,196,647 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.
AutoNation (NYSE:AN) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.16. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.58 billion. AutoNation had a return on equity of 16.40% and a net margin of 1.87%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. analysts anticipate that AutoNation, Inc. will post 3.76 EPS for the current year.
AN has been the subject of a number of analyst reports. Susquehanna Bancshares cut AutoNation to a “neutral” rating and lifted their price objective for the company from $36.00 to $38.00 in a report on Monday, October 2nd. Moffett Nathanson initiated coverage on AutoNation in a report on Monday, December 4th. They set a “neutral” rating for the company. UBS Group cut AutoNation from a “positive” rating to a “neutral” rating in a report on Thursday, September 28th. Jefferies Group reissued a “hold” rating and set a $44.00 price objective on shares of AutoNation in a report on Sunday, September 10th. Finally, ValuEngine raised AutoNation from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. AutoNation currently has an average rating of “Hold” and an average target price of $46.88.
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AutoNation Company Profile
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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