Redwood Investment Management LLC Raises Position in AutoNation, Inc. (NYSE:AN)

Redwood Investment Management LLC grew its holdings in shares of AutoNation, Inc. (NYSE:AN) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,068 shares of the company’s stock after purchasing an additional 360 shares during the period. Redwood Investment Management LLC’s holdings in AutoNation were worth $1,656,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Diversified Trust Co purchased a new position in shares of AutoNation during the second quarter valued at approximately $838,000. Raymond James & Associates raised its stake in AutoNation by 10.7% during the 2nd quarter. Raymond James & Associates now owns 58,084 shares of the company’s stock valued at $9,257,000 after buying an additional 5,611 shares during the last quarter. Versor Investments LP purchased a new stake in shares of AutoNation in the 2nd quarter worth $673,000. Point72 DIFC Ltd bought a new position in AutoNation in the 2nd quarter worth $602,000. Finally, WINTON GROUP Ltd bought a new position in shares of AutoNation during the 2nd quarter valued at about $15,832,000. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AN. Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $145.00 to $200.00 in a report on Wednesday, September 25th. Stephens started coverage on shares of AutoNation in a research report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price objective on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Guggenheim reduced their price objective on shares of AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, AutoNation presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

AutoNation Stock Performance

Shares of AN stock opened at $177.54 on Friday. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 3.78 and a beta of 1.24. The company’s 50 day moving average is $168.34 and its 200 day moving average is $169.14. 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 52-week low of $133.01 and a 52-week high of $197.18.

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.