Equitable Holdings Inc. Invests $518,000 in AutoNation, Inc. $AN

Equitable Holdings Inc. acquired a new stake in shares of AutoNation, Inc. (NYSE:AN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,789 shares of the company’s stock, valued at approximately $518,000.

Several other institutional investors also recently bought and sold shares of AN. Geneos Wealth Management Inc. lifted its holdings in AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after buying an additional 64 shares during the period. Employees Retirement System of Texas purchased a new position in shares of AutoNation in the 3rd quarter valued at $48,000. Smartleaf Asset Management LLC increased its holdings in shares of AutoNation by 49.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 259 shares of the company’s stock valued at $54,000 after acquiring an additional 86 shares during the period. Bessemer Group Inc. raised its position in shares of AutoNation by 33.0% in the 1st quarter. Bessemer Group Inc. now owns 306 shares of the company’s stock worth $59,000 after acquiring an additional 76 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of AutoNation in the 2nd quarter worth $63,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Performance

Shares of AutoNation stock opened at $200.35 on Monday. The firm has a market capitalization of $6.62 billion, a P/E ratio of 9.28, a PEG ratio of 0.83 and a beta of 0.71. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The company has a 50 day moving average price of $201.30 and a 200 day moving average price of $197.31. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81.

AutoNation (NYSE:AN) last released its earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping the consensus estimate of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. AutoNation’s revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that AutoNation, Inc. will post 21.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AN. JPMorgan Chase & Co. dropped their price objective on AutoNation from $235.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Barclays boosted their target price on shares of AutoNation from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their price target on shares of AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Citigroup raised their price target on shares of AutoNation from $287.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Argus lifted their price objective on shares of AutoNation from $241.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $250.00.

Insider Buying and Selling at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director directly owned 7,989 shares of the company’s stock, valued at $1,757,580. This represents a 10.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.