Millennium Management LLC Grows Stock Position in AutoNation, Inc. (NYSE:AN)

Millennium Management LLC increased its holdings in shares of AutoNation, Inc. (NYSE:AN) by 258.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,888 shares of the company’s stock after buying an additional 20,832 shares during the quarter. Millennium Management LLC’s holdings in AutoNation were worth $4,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Boston Partners acquired a new stake in AutoNation during the first quarter worth about $170,270,000. WINTON GROUP Ltd acquired a new stake in AutoNation during the second quarter worth about $15,832,000. Lodge Hill Capital LLC acquired a new stake in AutoNation during the second quarter worth about $15,141,000. Cubist Systematic Strategies LLC increased its stake in AutoNation by 4,275.6% during the second quarter. Cubist Systematic Strategies LLC now owns 50,107 shares of the company’s stock worth $7,986,000 after acquiring an additional 51,307 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in AutoNation by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,605,708 shares of the company’s stock worth $255,910,000 after acquiring an additional 41,712 shares during the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Price Performance

Shares of NYSE AN opened at $165.32 on Friday. AutoNation, Inc. has a fifty-two week low of $123.81 and a fifty-two week high of $197.18. The business has a 50 day moving average price of $171.40 and a two-hundred day moving average price of $167.54. The company has a quick ratio of 0.21, a current ratio of 0.78 and a debt-to-equity ratio of 1.65. The firm has a market cap of $6.66 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 3.24 and a beta of 1.19.

AutoNation (NYSE:AN) last issued its quarterly earnings data 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 business had revenue of $6.48 billion for 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%. AutoNation’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. Sell-side analysts expect that AutoNation, Inc. will post 17.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on AutoNation from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Morgan Stanley upgraded AutoNation from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $145.00 to $200.00 in a research note on Wednesday, September 25th. Stephens assumed coverage on AutoNation in a research note on Thursday, September 12th. They issued an “overweight” rating and a $210.00 target price for the company. Bank of America increased their target price on AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price 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 issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Insiders Place Their Bets

In related news, major shareholder Edward S. Lampert sold 53,562 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $193.45, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Edward S. Lampert sold 53,562 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total transaction of $10,361,568.90. Following the completion of the transaction, the insider now owns 3,825,838 shares in the company, valued at $740,108,361.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Edward S. Lampert sold 39,194 shares of the stock in a transaction on 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 sale, the insider now directly owns 3,786,144 shares in the company, valued at $694,492,393.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,256 shares of company stock valued at $35,262,954 over the last 90 days. 0.74% of the stock is owned by company insiders.

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.