AutoNation, Inc. (NYSE:AN) Major Stockholder Sells $4,646,272.34 in Shares
AutoNation, Inc. (NYSE: ONE – Get a rating) top shareholder Edward S. Lampert sold 38,153 shares in a trade that took place on Wednesday, June 8. The shares were sold at an average price of $121.78, for a total transaction of $4,646,272.34. Following the completion of the transaction, the insider now owns 8,225,959 shares of the company, valued at $1,001,757,287.02. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Large shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.
Shares of A stock traded at $2.64 in Friday’s midday session, reaching $120.12. The company had a trading volume of 987,033 shares, compared to an average volume of 879,667. AutoNation, Inc. has a 52-week low of $88.32 and a 52-week high of $133.48. The company has a debt ratio of 1.51, a current ratio of 1.16 and a quick ratio of 0.55. The company’s 50-day simple moving average is $113.76 and its 200-day simple moving average is $113.17. The stock has a market capitalization of $7.37 billion, a price/earnings ratio of 5.56, a PEG ratio of 0.21 and a beta of 1.14.
Auto Nation (NYSE: ONE – Get a rating) last released its quarterly earnings data on Thursday, April 21. The company reported earnings per share of $5.78 for the quarter, beating consensus analyst estimates of $5.39 by $0.39. The company posted revenue of $6.75 billion for the quarter, versus analyst estimates of $6.51 billion. AutoNation had a net margin of 5.60% and a return on equity of 59.93%. AutoNation’s quarterly revenue increased 14.4% year over year. During the same period last year, the company posted EPS of $2.79. Analysts expect AutoNation, Inc. to post EPS of 23.2 for the current year.
Several brokerages have weighed in on AN recently. StockNews.com upgraded shares of AutoNation from a “buy” rating to a “strong buy” rating in a Friday, May 27 research report. Truist Financial upgraded AutoNation shares from a “hold” rating to a “buy” rating and raised its price target for the company from $130.00 to $140.00 in a research note from the Monday, April 25. Wells Fargo & Company raised its target price on AutoNation from $137.00 to $153.00 and gave the company an “overweight” rating in a Friday, April 22 report. JPMorgan Chase & Co. downgraded AutoNation from a “neutral” to an “overweight” rating and lowered its price target for the stock from $140.00 to $130.00 in a Thursday research note April 7. Finally, Morgan Stanley cut its price target on AutoNation from $108.00 to $107.00 and set an “equal weight” rating for the company in a Friday, May 20 research note. Two research analysts gave the stock a hold rating, five gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $146.71.
Hedge funds and other institutional investors have recently been buying and selling stocks. Morgan Stanley increased its stake in AutoNation by 9.8% during the second quarter. Morgan Stanley now owns 444,022 shares of the company valued at $42,098,000 after acquiring 39,642 additional shares last quarter. HighTower Advisors LLC increased its position in AutoNation shares by 1.7% in the third quarter. HighTower Advisors LLC now owns 6,148 shares of the company valued at $750,000 after purchasing 101 additional shares during the period. GSA Capital Partners LLP acquired a new position in AutoNation in the third quarter worth $607,000. Franklin Resources Inc. increased its position in AutoNation by 2.1% during the third quarter. Franklin Resources Inc. now owns 4,701 shares of the company worth $572,000 after purchasing 95 additional shares during the period. Finally, AXA SA increased its position in AutoNation by 0.8% during the third quarter. AXA SA now owns 142,400 shares of the company worth $17,339,000 after purchasing an additional 1,200 shares during the period. 84.44% of the shares are held by hedge funds and other institutional investors.
AutoNation Company Profile (Get a rating)
AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The Company operates through three segments: domestic, import and high-end luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as auto repair and maintenance, wholesale parts, and collision services.
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