AQR Capital Management LLC Sells 66,946 Shares of AutoNation, Inc. (NYSE:AN)

AQR Capital Management LLC reduced its stake in shares of AutoNation, Inc. (NYSE:AN) by 14.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 386,920 shares of the company’s stock after selling 66,946 shares during the quarter. AQR Capital Management LLC’s holdings in AutoNation were worth $61,478,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AutoNation during the 2nd quarter worth approximately $983,000. Point72 Hong Kong Ltd acquired a new stake in shares of AutoNation in the 2nd quarter valued at $2,186,000. Cubist Systematic Strategies LLC boosted its holdings in shares of AutoNation by 4,275.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 50,107 shares of the company’s stock valued at $7,986,000 after purchasing an additional 51,307 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of AutoNation during the 2nd quarter worth $602,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of AutoNation by 1,507.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 884 shares of the company’s stock worth $141,000 after buying an additional 829 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AN. Bank of America lifted their target price on AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley upgraded shares of AutoNation from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $145.00 to $200.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of AutoNation from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Stephens began coverage on shares of AutoNation in a research note on Thursday, September 12th. They set an “overweight” rating and a $210.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and a consensus price target of $201.75.

AutoNation Price Performance

Shares of NYSE:AN opened at $182.61 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.21 and a current ratio of 0.78. AutoNation, Inc. has a 52 week low of $123.81 and a 52 week high of $197.18. The firm has a market cap of $7.25 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 3.54 and a beta of 1.20. The firm’s fifty day moving average is $173.00 and its 200-day moving average is $166.76.

AutoNation (NYSE:AN) last announced its earnings results on Wednesday, July 31st. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.31 by ($0.32). AutoNation had a return on equity of 36.50% and a net margin of 2.93%. The company had revenue of $6.48 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period in the previous year, the firm posted $6.29 earnings per share. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. Sell-side analysts predict that AutoNation, Inc. will post 17.67 earnings per share for the current year.

Insider Buying and Selling

In other AutoNation news, major shareholder Edward S. Lampert sold 23,703 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the completion of the sale, the insider now owns 3,980,467 shares of the company’s stock, valued at approximately $685,794,659.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Edward S. Lampert sold 39,194 shares of AutoNation stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $183.43, for a total value of $7,189,355.42. Following the completion of the transaction, the insider now directly owns 3,786,144 shares of the company’s stock, valued at approximately $694,492,393.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Edward S. Lampert sold 23,703 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $172.29, for a total value of $4,083,789.87. Following the sale, the insider now owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The disclosure for this sale can be found here. Insiders have sold a total of 216,959 shares of company stock valued at $39,346,744 over the last ninety days. 0.74% of the stock is owned by company insiders.

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.