New Mexico Educational Retirement Board Acquires 800 Shares of AutoNation, Inc. (NYSE:AN)

Posted by Defense World Staff on Oct 1st, 2023

New Mexico Educational Retirement Board grew its position in shares of AutoNation, Inc. (NYSE:AN – Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,000 shares of the company’s stock after acquiring an additional 800 shares during the period. New Mexico Educational Retirement Board’s holdings in AutoNation were worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AN. Quadrant Capital Group LLC raised its stake in shares of AutoNation by 87.8% during the fourth quarter. Quadrant Capital Group LLC now owns 231 shares of the company’s stock valued at $25,000 after acquiring an additional 108 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of AutoNation during the first quarter valued at about $27,000. Compass Wealth Management LLC purchased a new stake in AutoNation in the fourth quarter worth about $32,000. Deseret Mutual Benefit Administrators grew its holdings in AutoNation by 106.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 458 shares of the company’s stock worth $62,000 after purchasing an additional 236 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in AutoNation in the first quarter worth about $65,000. 97.22% of the stock is owned by institutional investors.

Insider Transactions at AutoNation

In related news, EVP C Coleman Edmunds sold 4,500 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $160.35, for a total transaction of $721,575.00. Following the completion of the transaction, the executive vice president now directly owns 9,094 shares of the company’s stock, valued at $1,458,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP C Coleman Edmunds sold 4,500 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $160.35, for a total transaction of $721,575.00. Following the completion of the transaction, the executive vice president now directly owns 9,094 shares of the company’s stock, valued at $1,458,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph T. Lower sold 10,000 shares of AutoNation stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $150.61, for a total transaction of $1,506,100.00. Following the completion of the transaction, the chief financial officer now directly owns 26,075 shares of the company’s stock, valued at $3,927,155.75. The disclosure for this sale can be found here. Insiders sold a total of 132,771 shares of company stock valued at $22,839,759 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AN shares. Stephens upped their target price on shares of AutoNation from $146.00 to $180.00 in a research note on Wednesday, July 19th. Bank of America upped their target price on shares of AutoNation from $225.00 to $245.00 in a research note on Thursday, July 6th. Morgan Stanley upped their target price on shares of AutoNation from $105.00 to $117.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. StockNews.com upgraded shares of AutoNation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 5th. Finally, Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of AutoNation in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $174.57.

Get Our Latest Stock Report on AutoNation

AutoNation Stock Down 0.8 %

AN opened at $151.40 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.24 and a debt-to-equity ratio of 1.83. AutoNation, Inc. has a 1-year low of $94.92 and a 1-year high of $182.08. The company has a market capitalization of $6.67 billion, a PE ratio of 6.28 and a beta of 1.16. The firm’s 50 day simple moving average is $155.67 and its two-hundred day simple moving average is $147.29.

AutoNation (NYSE:AN – Get Free Report) last released its quarterly earnings results on Friday, July 21st. The company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.38. The business had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.78 billion. AutoNation had a net margin of 4.50% and a return on equity of 58.35%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $6.48 earnings per share. As a group, equities analysts forecast that AutoNation, Inc. will post 22.82 EPS for the current year.

About AutoNation

(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.