AutoNation, Inc. (NYSE:AN) Shares Sold by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC lessened its stake in AutoNation, Inc. (NYSE:AN) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,500 shares of the company’s stock after selling 162 shares during the period. Silverlake Wealth Management LLC’s holdings in AutoNation were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AN. Wedge Capital Management L L P NC grew its position in AutoNation by 47.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock worth $51,491,000 after buying an additional 109,571 shares during the period. Charles Schwab Investment Management Inc. raised its position in AutoNation by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,991 shares of the company’s stock worth $45,203,000 after acquiring an additional 1,166 shares during the last quarter. Norges Bank purchased a new stake in shares of AutoNation in the fourth quarter valued at about $42,748,000. Ferguson Wellman Capital Management Inc. grew its position in shares of AutoNation by 1.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 267,650 shares of the company’s stock valued at $44,317,000 after purchasing an additional 4,720 shares during the last quarter. Finally, Eminence Capital LP raised its position in shares of AutoNation by 84.4% during the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock worth $39,338,000 after purchasing an additional 119,866 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Down 0.7 %

AN stock opened at $160.67 on Wednesday. The firm has a market cap of $6.47 billion, a PE ratio of 7.62, a P/E/G ratio of 3.03 and a beta of 1.21. AutoNation, Inc. has a 12 month low of $123.81 and a 12 month high of $182.08. The firm has a 50 day simple moving average of $165.53 and a 200 day simple moving average of $155.01. 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 (NYSE:AN) last issued its quarterly earnings results on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the previous year, the company posted $6.05 earnings per share. AutoNation’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts forecast that AutoNation, Inc. will post 18.44 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Guggenheim raised their price target on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. increased their price target on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their price objective on AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Evercore ISI boosted their price target on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, Bank of America reduced their price objective 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.25.

Insiders Place Their Bets

In other news, Director David B. Edelson sold 10,000 shares of AutoNation stock in a transaction dated 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 transaction, the director now directly owns 48,793 shares in the company, valued at $8,197,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.74% of the company’s stock.

About AutoNation

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.