American International Group Inc. Decreases Stake in AutoNation, Inc. (NYSE:AN)

American International Group Inc. decreased its position in AutoNation, Inc. (NYSE:AN) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,055 shares of the company’s stock after selling 2,823 shares during the quarter. American International Group Inc.’s holdings in AutoNation were worth $5,265,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Realta Investment Advisors raised its stake in shares of AutoNation by 5.4% in the fourth quarter. Realta Investment Advisors now owns 1,410 shares of the company’s stock worth $212,000 after buying an additional 72 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of AutoNation by 1.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 4,061 shares of the company’s stock worth $610,000 after buying an additional 74 shares during the period. Prime Capital Investment Advisors LLC raised its stake in shares of AutoNation by 4.6% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,712 shares of the company’s stock worth $257,000 after buying an additional 76 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of AutoNation by 1.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 5,873 shares of the company’s stock worth $882,000 after buying an additional 88 shares during the period. Finally, Quent Capital LLC raised its stake in shares of AutoNation by 1.6% in the fourth quarter. Quent Capital LLC now owns 6,583 shares of the company’s stock worth $989,000 after buying an additional 101 shares during the period. Institutional investors own 94.62% of the company’s stock.

Insider Transactions at AutoNation

In other news, Director David B. Edelson sold 10,000 shares of AutoNation stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the transaction, the director now owns 48,793 shares in the company, valued at approximately $8,197,224. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.74% of the company’s stock.

AutoNation Stock Performance

NYSE AN opened at $160.47 on Friday. The stock has a market capitalization of $6.46 billion, a PE ratio of 7.61, a P/E/G ratio of 3.08 and a beta of 1.21. The business has a 50 day simple moving average of $164.98 and a two-hundred day simple moving average of $153.98. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23. AutoNation, Inc. has a 1-year low of $123.81 and a 1-year high of $182.08.

AutoNation (NYSE:AN) last released its quarterly earnings results on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.04. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.49 billion. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.05 EPS. On average, research analysts predict that AutoNation, Inc. will post 18.44 EPS for the current fiscal year.

AutoNation declared that its Board of Directors has approved a share buyback program on Friday, April 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 14.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Guggenheim lifted their target price on AutoNation from $169.00 to $187.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley raised AutoNation from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $117.00 to $140.00 in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on AutoNation from $142.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Evercore ISI lifted their target price on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Finally, Bank of America decreased their target price on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.25.

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.