Tidal Investments LLC Trims Holdings in AutoNation, Inc. (NYSE:AN)

Tidal Investments LLC reduced its stake in AutoNation, Inc. (NYSE:AN) by 23.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,708 shares of the company’s stock after selling 528 shares during the quarter. Tidal Investments LLC’s holdings in AutoNation were worth $306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Simcoe Capital Management LLC purchased a new stake in shares of AutoNation during the 3rd quarter valued at approximately $42,255,000. Holocene Advisors LP purchased a new stake in AutoNation in the 3rd quarter valued at about $20,046,000. WINTON GROUP Ltd acquired a new position in AutoNation in the second quarter valued at about $15,832,000. Verition Fund Management LLC boosted its stake in AutoNation by 739.9% during the third quarter. Verition Fund Management LLC now owns 109,040 shares of the company’s stock worth $19,509,000 after buying an additional 96,058 shares during the period. Finally, Lodge Hill Capital LLC acquired a new stake in shares of AutoNation during the second quarter valued at about $15,141,000. 94.62% of the stock is owned by institutional investors and hedge funds.

AutoNation Stock Up 1.5 %

Shares of AutoNation stock opened at $173.84 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58. AutoNation, Inc. has a 52-week low of $133.13 and a 52-week high of $197.18. The company has a market capitalization of $6.89 billion, a P/E ratio of 10.03, a P/E/G ratio of 3.63 and a beta of 1.24. The company has a 50 day moving average of $169.13 and a 200 day moving average of $169.57.

Analysts Set New Price Targets

A number of research firms recently weighed in on AN. Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $200.00 in a research report on Wednesday, September 25th. Wells Fargo & Company dropped their price objective on AutoNation from $187.00 to $181.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Stephens started coverage on AutoNation in a research note on Thursday, September 12th. They set an “overweight” rating and a $210.00 target price on the stock. Guggenheim lowered their target price on AutoNation from $190.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.29.

AutoNation 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.