Municipal Employees Retirement System of Michigan Sells 1,810 Shares of AutoNation, Inc. (AN)
Municipal Employees Retirement System of Michigan lessened its stake in AutoNation, Inc. (NYSE:AN) by 9.2% in the fourth quarter, Holdings Channel reports. The fund owned 17,940 shares of the company’s stock after selling 1,810 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in AutoNation were worth $921,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its holdings in AutoNation by 300.0% during the 3rd quarter. Nationwide Fund Advisors now owns 121,771 shares of the company’s stock valued at $5,779,000 after purchasing an additional 91,329 shares during the period. State of Wisconsin Investment Board grew its holdings in shares of AutoNation by 17.3% during the 3rd quarter. State of Wisconsin Investment Board now owns 60,169 shares of the company’s stock worth $2,856,000 after acquiring an additional 8,872 shares during the period. Principal Financial Group Inc. grew its holdings in shares of AutoNation by 171.1% during the 3rd quarter. Principal Financial Group Inc. now owns 277,520 shares of the company’s stock worth $13,171,000 after acquiring an additional 175,134 shares during the period. Sei Investments Co. grew its holdings in shares of AutoNation by 94.1% during the 3rd quarter. Sei Investments Co. now owns 11,169 shares of the company’s stock worth $530,000 after acquiring an additional 5,415 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of AutoNation by 164.0% during the 3rd quarter. Retirement Systems of Alabama now owns 84,238 shares of the company’s stock worth $3,998,000 after acquiring an additional 52,324 shares during the period. 69.22% of the stock is owned by institutional investors.
Shares of AutoNation, Inc. (NYSE:AN) opened at $47.10 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.25. The firm has a market capitalization of $4,413.10, a P/E ratio of 10.54, a P/E/G ratio of 1.15 and a beta of 1.36. AutoNation, Inc. has a 52 week low of $38.20 and a 52 week high of $62.02.
A number of research analysts have weighed in on AN shares. Moffett Nathanson started coverage on AutoNation in a report on Monday, December 4th. They set a “neutral” rating on the stock. Bank of America reiterated a “hold” rating and set a $65.00 target price on shares of AutoNation in a report on Thursday, February 1st. Jefferies Group reiterated a “hold” rating and set a $60.00 target price on shares of AutoNation in a report on Friday, February 2nd. Finally, Morgan Stanley upped their target price on AutoNation from $49.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.78.
In related news, Director Robert R. Grusky sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $51.99, for a total value of $519,900.00. Following the sale, the director now owns 32,677 shares in the company, valued at approximately $1,698,877.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert R. Grusky sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director now owns 37,677 shares in the company, valued at approximately $2,072,235. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $1,094,900 in the last 90 days. 2.80% of the stock is currently owned by company insiders.
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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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