Bank of America Corp DE reduced its holdings in AutoNation, Inc. (NYSE:AN) by 12.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 161,217 shares of the company’s stock after selling 22,747 shares during the quarter. Bank of America Corp DE’s holdings in AutoNation were worth $6,762,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new stake in shares of AutoNation in the 2nd quarter valued at approximately $32,000. Trust Co. of Vermont acquired a new stake in shares of AutoNation in the 2nd quarter valued at approximately $42,000. Coastal Investment Advisors Inc. lifted its holdings in shares of AutoNation by 59.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,814 shares of the company’s stock valued at $118,000 after buying an additional 1,049 shares during the period. Pearl River Capital LLC acquired a new stake in shares of AutoNation in the 2nd quarter valued at approximately $129,000. Finally, Bessemer Group Inc. lifted its holdings in shares of AutoNation by 718.9% in the 2nd quarter. Bessemer Group Inc. now owns 3,120 shares of the company’s stock valued at $131,000 after buying an additional 2,739 shares during the period. 65.34% of the stock is owned by institutional investors and hedge funds.
NYSE AN opened at $48.51 on Friday. AutoNation, Inc. has a 1-year low of $32.83 and a 1-year high of $52.56. The company has a market capitalization of $4.32 billion, a P/E ratio of 10.80, a PEG ratio of 3.01 and a beta of 1.06. The business has a 50 day moving average price of $48.89 and a 200 day moving average price of $43.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.83 and a quick ratio of 0.20.
Several research firms recently weighed in on AN. ValuEngine downgraded AutoNation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price objective on AutoNation from $35.00 to $39.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. TheStreet raised AutoNation from a “c+” rating to a “b” rating in a research note on Tuesday, July 23rd. Finally, Longbow Research reaffirmed a “hold” rating on shares of AutoNation in a research note on Sunday, July 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.01.
In other AutoNation news, major shareholder Edward S. Lampert sold 1,532,114 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $47.60, for a total transaction of $72,928,626.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael J. Jackson sold 32,231 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.22, for a total value of $1,554,178.82. Following the transaction, the chairman now directly owns 199,917 shares of the company’s stock, valued at approximately $9,639,997.74. The disclosure for this sale can be found here. Insiders sold a total of 1,730,131 shares of company stock valued at $82,809,391 over the last ninety days. 2.40% of the stock is currently owned by company insiders.
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.
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