AutoNation, Inc. (NYSE:AN) Shares Sold by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD lowered its position in shares of AutoNation, Inc. (NYSE:AN) by 29.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,877 shares of the company’s stock after selling 2,066 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in AutoNation were worth $205,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of AutoNation by 43.8% in the first quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after buying an additional 1,000 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of AutoNation by 178.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,454 shares of the company’s stock worth $198,000 after buying an additional 2,854 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of AutoNation during the first quarter worth about $206,000. Achmea Investment Management B.V. bought a new position in shares of AutoNation during the first quarter worth about $209,000. Finally, Invictus RG increased its position in shares of AutoNation by 58.2% in the first quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after buying an additional 1,833 shares during the last quarter. 65.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of AutoNation, Inc. (NYSE:AN) opened at 41.04 on Friday. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $53.74. The stock has a 50 day moving average of $41.48 and a 200-day moving average of $42.96. The stock has a market capitalization of $4.12 billion, a P/E ratio of 10.22 and a beta of 1.24.
AutoNation (NYSE:AN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.12. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. AutoNation’s revenue was down 3.0% on a year-over-year basis. Analysts predict that AutoNation, Inc. will post $3.59 EPS for the current fiscal year.
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A number of brokerages have issued reports on AN. Morgan Stanley reduced their price objective on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Wells Fargo & Company reissued a “market perform” rating and set a $45.00 price objective (down from $48.50) on shares of AutoNation in a research report on Monday, July 17th. Deutsche Bank AG reissued a “hold” rating and set a $46.00 price objective (down from $50.00) on shares of AutoNation in a research report on Thursday, June 22nd. ValuEngine downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Buckingham Research reduced their price objective on shares of AutoNation from $44.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.20.
In other news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.99, for a total transaction of $109,172.00. Following the sale, the director now owns 30,713 shares in the company, valued at $1,197,499.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.
AutoNation Company Profile
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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