Rialto Wealth Management LLC Has $1.45 Million Position in AutoNation, Inc. $AN

Rialto Wealth Management LLC grew its holdings in AutoNation, Inc. (NYSE:AN) by 364.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,633 shares of the company’s stock after buying an additional 5,205 shares during the quarter. Rialto Wealth Management LLC’s holdings in AutoNation were worth $1,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AutoNation in the second quarter worth about $62,613,000. Squarepoint Ops LLC raised its position in shares of AutoNation by 219.6% during the second quarter. Squarepoint Ops LLC now owns 316,923 shares of the company’s stock worth $62,957,000 after acquiring an additional 217,774 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of AutoNation by 51.8% during the second quarter. AQR Capital Management LLC now owns 631,744 shares of the company’s stock valued at $125,439,000 after acquiring an additional 215,577 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of AutoNation during the third quarter valued at $34,601,000. Finally, Invesco Ltd. boosted its holdings in AutoNation by 20.6% in the second quarter. Invesco Ltd. now owns 815,931 shares of the company’s stock valued at $162,085,000 after acquiring an additional 139,363 shares during the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Price Performance

AN opened at $202.10 on Monday. The stock has a market cap of $7.01 billion, a P/E ratio of 11.85 and a beta of 0.88. AutoNation, Inc. has a 12 month low of $148.33 and a 12 month high of $228.92. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 2.39. The company has a fifty day simple moving average of $211.30 and a 200 day simple moving average of $210.66.

AutoNation (NYSE:AN) last issued its quarterly earnings data on Friday, February 6th. The company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The business had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the business posted $4.97 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts expect that AutoNation, Inc. will post 18.15 EPS for the current year.

AutoNation announced that its Board of Directors has approved a stock repurchase program on Friday, October 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stephens boosted their price objective on AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. raised shares of AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price target for the company in a research note on Friday, January 16th. Wells Fargo & Company raised their price objective on shares of AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a research note on Sunday, February 8th. Barclays cut their price target on AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Finally, Evercore lifted their price objective on AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.11.

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.