Barclays PLC Trims Stake in AutoNation, Inc. (NYSE:AN)

Posted by Defense World Staff on Aug 9th, 2023

Barclays PLC lessened its holdings in shares of AutoNation, Inc. (NYSE:AN – Free Report) by 78.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,094 shares of the company’s stock after selling 223,139 shares during the quarter. Barclays PLC owned approximately 0.14% of AutoNation worth $8,342,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Lazard Asset Management LLC lifted its stake in shares of AutoNation by 5.2% during the 4th quarter. Lazard Asset Management LLC now owns 1,612 shares of the company’s stock worth $172,000 after purchasing an additional 79 shares during the period. Quadrant Capital Group LLC raised its position in shares of AutoNation by 87.8% in the 4th quarter. Quadrant Capital Group LLC now owns 231 shares of the company’s stock worth $25,000 after buying an additional 108 shares during the period. SummerHaven Investment Management LLC raised its position in shares of AutoNation by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,916 shares of the company’s stock worth $929,000 after buying an additional 129 shares during the period. TFO TDC LLC purchased a new position in shares of AutoNation in the 4th quarter worth $34,000. Finally, Simplicity Solutions LLC raised its position in shares of AutoNation by 7.7% in the 1st quarter. Simplicity Solutions LLC now owns 2,167 shares of the company’s stock worth $291,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 70.48% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Edward S. Lampert sold 55,914 shares of AutoNation stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $140.76, for a total transaction of $7,870,454.64. Following the sale, the insider now owns 5,143,232 shares of the company’s stock, valued at $723,961,336.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Joseph T. Lower sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $157.96, for a total transaction of $1,579,600.00. Following the transaction, the chief financial officer now owns 16,075 shares in the company, valued at $2,539,207. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Edward S. Lampert sold 55,914 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $140.76, for a total transaction of $7,870,454.64. Following the transaction, the insider now owns 5,143,232 shares in the company, valued at approximately $723,961,336.32. The disclosure for this sale can be found here. Insiders have sold 306,758 shares of company stock valued at $48,036,689 over the last quarter. Insiders own 0.69% of the company’s stock.

AutoNation Stock Performance

Shares of AN stock opened at $155.84 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.24 and a current ratio of 0.83. AutoNation, Inc. has a one year low of $94.92 and a one year high of $182.08. The company’s 50-day simple moving average is $157.89 and its 200-day simple moving average is $141.96. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 6.46 and a beta of 1.14.

AutoNation (NYSE:AN – Get Free Report) last issued its quarterly earnings results on Friday, July 21st. The company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.91 by $0.38. AutoNation had a net margin of 4.50% and a return on equity of 58.35%. The business had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.78 billion. During the same quarter last year, the company posted $6.48 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that AutoNation, Inc. will post 22.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America increased their target price on AutoNation from $225.00 to $245.00 in a research report on Thursday, July 6th. Wells Fargo & Company lowered their price target on AutoNation from $174.00 to $171.00 and set an “equal weight” rating for the company in a report on Monday, July 24th. Stephens increased their price target on AutoNation from $146.00 to $180.00 in a report on Wednesday, July 19th. Guggenheim lowered their price target on AutoNation from $184.00 to $179.00 and set a “buy” rating for the company in a report on Monday, July 24th. Finally, StockNews.com began coverage on AutoNation in a research note on Thursday, May 18th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $168.88.

Check Out Our Latest Analysis on AN

AutoNation Profile

(Free Report)

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.

Barclays PLC Trims Stake in AutoNation, Inc. (NYSE:AN)

Insiders Place Their Bets

AutoNation Stock Performance

Wall Street Analyst Weigh In

AutoNation Profile

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