SG Americas Securities LLC Trims Holdings in AutoNation, Inc. (NYSE:AN)

SG Americas Securities LLC trimmed its stake in AutoNation, Inc. (NYSE:AN) by 69.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,512 shares of the company’s stock after selling 10,324 shares during the period. SG Americas Securities LLC’s holdings in AutoNation were worth $549,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in AN. Garner Asset Management Corp increased its position in shares of AutoNation by 16.0% during the third quarter. Garner Asset Management Corp now owns 18,955 shares of the company’s stock worth $2,308,000 after acquiring an additional 2,620 shares during the period. Janney Montgomery Scott LLC boosted its holdings in AutoNation by 7.4% in the third quarter. Janney Montgomery Scott LLC now owns 13,266 shares of the company’s stock valued at $1,615,000 after purchasing an additional 909 shares during the period. Harvest Investment Services LLC boosted its holdings in AutoNation by 15.6% in the third quarter. Harvest Investment Services LLC now owns 6,692 shares of the company’s stock valued at $814,000 after purchasing an additional 905 shares during the period. M&T Bank Corp purchased a new position in AutoNation in the third quarter valued at $243,000. Finally, Harfst & Associates Inc. purchased a new position in AutoNation in the third quarter valued at $221,000. 86.59% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. Stephens lifted their target price on AutoNation from $120.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, October 22nd. Benchmark lifted their target price on AutoNation from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, October 22nd. Morgan Stanley decreased their target price on AutoNation from $116.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, November 17th. Finally, Truist lifted their target price on AutoNation from $110.00 to $130.00 and gave the company a “hold” rating in a report on Friday, October 22nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.29.

In other news, major shareholder Cascade Investment, L.L.C. sold 127,026 shares of AutoNation stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $119.12, for a total transaction of $15,131,337.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rick L. Burdick sold 20,000 shares of AutoNation stock in a transaction dated Friday, October 22nd. The stock was sold at an average price of $130.75, for a total value of $2,615,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 525,000 shares of company stock worth $66,529,278. 1.50% of the stock is owned by insiders.

AutoNation stock opened at $109.90 on Friday. AutoNation, Inc. has a 1-year low of $70.64 and a 1-year high of $133.48. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.98 and a quick ratio of 0.36. The stock has a market cap of $7.20 billion, a PE ratio of 7.56, a P/E/G ratio of 0.27 and a beta of 1.39. The stock’s fifty day moving average is $118.90 and its two-hundred day moving average is $115.90.

AutoNation (NYSE:AN) last posted its quarterly earnings results on Wednesday, October 20th. The company reported $5.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.20 by $0.92. AutoNation had a return on equity of 41.00% and a net margin of 4.54%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same period last year, the firm earned $2.38 earnings per share. AutoNation’s quarterly revenue was up 18.0% on a year-over-year basis. On average, research analysts expect that AutoNation, Inc. will post 17.51 earnings per share for the current fiscal year.

AutoNation declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 21st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

About AutoNation

AutoNation, Inc engages in the provision of automotive products and services. It operates through the following segments: Domestic, Import, Premium Luxury, and Corporate & Other. The Domestic segment comprises retail automotive franchises that sell new vehicles manufactured by General Motors, Ford and Chrysler.

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Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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