Pacer Advisors Inc. Cuts Position in AutoNation, Inc. (NYSE:AN)

Pacer Advisors Inc. lowered its stake in shares of AutoNation, Inc. (NYSE:AN) by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,662 shares of the company’s stock after selling 195 shares during the period. Pacer Advisors Inc.’s holdings in AutoNation were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AN. Concurrent Investment Advisors LLC raised its stake in shares of AutoNation by 1.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,436 shares of the company’s stock worth $866,000 after buying an additional 65 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of AutoNation by 0.3% in the first quarter. Retirement Systems of Alabama now owns 32,570 shares of the company’s stock valued at $5,393,000 after purchasing an additional 84 shares in the last quarter. Davis Capital Management grew its position in shares of AutoNation by 0.9% in the second quarter. Davis Capital Management now owns 9,532 shares of the company’s stock valued at $1,543,000 after purchasing an additional 84 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of AutoNation by 1.7% during the 2nd quarter. QRG Capital Management Inc. now owns 5,047 shares of the company’s stock worth $804,000 after purchasing an additional 85 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of AutoNation by 4.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,969 shares of the company’s stock worth $326,000 after purchasing an additional 87 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Price Performance

AN opened at $182.61 on Friday. AutoNation, Inc. has a 1 year low of $123.81 and a 1 year high of $197.18. The company’s 50 day simple moving average is $173.00 and its 200 day simple moving average is $166.88. The stock has a market capitalization of $7.25 billion, a PE ratio of 8.66, a P/E/G ratio of 3.54 and a beta of 1.20. 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 (NYSE:AN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.32). The company had revenue of $6.48 billion during the quarter, compared to analyst estimates of $6.72 billion. AutoNation had a net margin of 2.93% and a return on equity of 36.50%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $6.29 EPS. As a group, sell-side analysts expect that AutoNation, Inc. will post 17.67 EPS for the current year.

Insider Activity at AutoNation

In other news, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $172.29, for a total value of $4,083,789.87. Following the transaction, the insider now directly owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Edward S. Lampert sold 53,562 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $193.45, for a total value of $10,361,568.90. Following the completion of the sale, the insider now owns 3,825,838 shares of the company’s stock, valued at $740,108,361.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 216,959 shares of company stock worth $39,346,744. 0.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI raised their price target on AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Wells Fargo & Company boosted their target price on shares of AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Stephens started coverage on shares of AutoNation in a research note on Thursday, September 12th. They set an “overweight” rating and a $210.00 price target on the stock. Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $145.00 to $200.00 in a research report on Wednesday. Finally, Bank of America raised their target price on shares of AutoNation from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, AutoNation has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

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.