Michael S. Ryan Inc. Sells 113 Shares of AutoNation, Inc. (NYSE:AN)

Michael S. Ryan Inc. lowered its holdings in shares of AutoNation, Inc. (NYSE:AN) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,471 shares of the company’s stock after selling 113 shares during the quarter. Michael S. Ryan Inc.’s holdings in AutoNation were worth $244,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of AutoNation in the fourth quarter valued at approximately $42,748,000. Invesco Ltd. lifted its holdings in shares of AutoNation by 31.8% in the 3rd quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock worth $114,300,000 after buying an additional 181,942 shares during the period. Eminence Capital LP grew its position in shares of AutoNation by 84.4% during the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock worth $39,338,000 after buying an additional 119,866 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of AutoNation by 47.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after buying an additional 109,571 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of AutoNation by 137.5% in the third quarter. Qube Research & Technologies Ltd now owns 167,178 shares of the company’s stock valued at $25,311,000 after acquiring an additional 96,797 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

AutoNation Price Performance

Shares of AutoNation stock traded down $0.15 on Tuesday, hitting $168.35. The company’s stock had a trading volume of 58,497 shares, compared to its average volume of 422,667. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 3.12 and a beta of 1.21. The firm has a fifty day moving average price of $164.28 and a 200-day moving average price of $153.35. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79. AutoNation, Inc. has a 1 year low of $123.81 and a 1 year high of $182.08.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the prior year, the business posted $6.05 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AutoNation, Inc. will post 18.44 earnings per share for the current fiscal year.

AutoNation declared that its Board of Directors has approved a stock repurchase program on Friday, April 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 14.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on AutoNation from $142.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Bank of America cut their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. StockNews.com downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Guggenheim upped their price target on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Evercore ISI boosted their target price on AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.25.

Insider Activity at AutoNation

In related news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the transaction, the insider now directly owns 4,167,270 shares in the company, valued at $672,013,960.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David B. Edelson sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the director now directly owns 48,793 shares in the company, valued at $8,197,224. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the completion of the transaction, the insider now owns 4,167,270 shares in the company, valued at $672,013,960.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

About AutoNation

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.