California Public Employees Retirement System lessened its stake in shares of AutoNation, Inc. (NYSE:AN – Get Rating) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,930 shares of the company’s stock after selling 9,963 shares during the period. California Public Employees Retirement System owned approximately 0.17% of AutoNation worth $8,791,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AN. Fox Run Management L.L.C. purchased a new position in AutoNation in the 4th quarter worth approximately $249,000. Oak Thistle LLC purchased a new stake in AutoNation in the 4th quarter worth approximately $259,000. Westpac Banking Corp raised its stake in AutoNation by 3.8% during the 4th quarter. Westpac Banking Corp now owns 19,580 shares of the company’s stock worth $2,101,000 after acquiring an additional 725 shares during the period. Pacer Advisors Inc. lifted its holdings in AutoNation by 28.6% during the fourth quarter. Pacer Advisors Inc. now owns 434,631 shares of the company’s stock valued at $46,636,000 after purchasing an additional 96,783 shares in the last quarter. Finally, TFO TDC LLC purchased a new position in AutoNation during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.
AutoNation Trading Down 1.6 %
Shares of AN opened at $131.11 on Wednesday. AutoNation, Inc. has a 1-year low of $94.92 and a 1-year high of $158.30. The company has a 50-day moving average of $131.63 and a 200 day moving average of $124.72. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 0.26 and a beta of 1.08. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.83 and a quick ratio of 0.25.
Insider Buying and Selling at AutoNation
In other AutoNation news, major shareholder Edward S. Lampert sold 51,100 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $154.79, for a total transaction of $7,909,769.00. Following the completion of the sale, the insider now directly owns 5,382,655 shares of the company’s stock, valued at $833,181,167.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP C Coleman Edmunds sold 9,445 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $140.11, for a total value of $1,323,338.95. Following the sale, the executive vice president now owns 13,594 shares in the company, valued at $1,904,655.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Edward S. Lampert sold 51,100 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $154.79, for a total value of $7,909,769.00. Following the completion of the sale, the insider now owns 5,382,655 shares in the company, valued at approximately $833,181,167.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,854 shares of company stock valued at $34,835,337. 0.69% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages recently issued reports on AN. JPMorgan Chase & Co. downgraded AutoNation from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $125.00 to $130.00 in a research note on Tuesday, February 21st. StockNews.com started coverage on shares of AutoNation in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Morgan Stanley lowered shares of AutoNation from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $104.00 to $96.00 in a research report on Tuesday, January 17th. Wells Fargo & Company lifted their price target on shares of AutoNation from $135.00 to $144.00 and gave the company an “equal weight” rating in a report on Friday, April 21st. Finally, Guggenheim increased their price objective on shares of AutoNation from $181.00 to $184.00 and gave the company a “buy” rating in a report on Monday, April 17th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $153.14.
AutoNation Profile
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 Stellantis.
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