Verition Fund Management LLC Buys 96,058 Shares of AutoNation, Inc. (NYSE:AN)

Verition Fund Management LLC raised its position in AutoNation, Inc. (NYSE:AN) by 739.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,040 shares of the company’s stock after purchasing an additional 96,058 shares during the period. Verition Fund Management LLC’s holdings in AutoNation were worth $19,509,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in AutoNation by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,605,708 shares of the company’s stock worth $255,910,000 after buying an additional 41,712 shares in the last quarter. LSV Asset Management lifted its stake in AutoNation by 0.6% during the second quarter. LSV Asset Management now owns 781,825 shares of the company’s stock worth $124,607,000 after purchasing an additional 4,350 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AutoNation by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 320,888 shares of the company’s stock worth $57,413,000 after purchasing an additional 19,015 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of AutoNation in the 2nd quarter worth about $15,832,000. Finally, Lodge Hill Capital LLC bought a new position in shares of AutoNation during the 2nd quarter valued at about $15,141,000. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Stock Performance

NYSE:AN opened at $178.89 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58. AutoNation, Inc. has a twelve month low of $133.01 and a twelve month high of $197.18. The stock has a market cap of $7.09 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 3.76 and a beta of 1.21. The firm’s fifty day simple moving average is $168.02 and its 200 day simple moving average is $168.80.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company decreased their price target on AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley upgraded shares of AutoNation from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $145.00 to $200.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Finally, Stephens began coverage on shares of AutoNation in a report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

AutoNation Company Profile

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.