Commonwealth Bank of Australia Acquires 9,800 Shares of AutoNation, Inc. (AN)
Commonwealth Bank of Australia lifted its holdings in AutoNation, Inc. (NYSE:AN) by 40.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,034 shares of the company’s stock after purchasing an additional 9,800 shares during the period. Commonwealth Bank of Australia’s holdings in AutoNation were worth $1,434,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Atlantic Trust Group LLC lifted its stake in shares of AutoNation by 4.7% in the 2nd quarter. Atlantic Trust Group LLC now owns 153,996 shares of the company’s stock worth $6,493,000 after purchasing an additional 6,964 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of AutoNation by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after purchasing an additional 24 shares during the period. State of Tennessee Treasury Department lifted its stake in shares of AutoNation by 0.5% in the 2nd quarter. State of Tennessee Treasury Department now owns 18,002 shares of the company’s stock worth $759,000 after purchasing an additional 84 shares during the period. Private Management Group Inc. lifted its stake in shares of AutoNation by 43.9% in the 2nd quarter. Private Management Group Inc. now owns 728,091 shares of the company’s stock worth $30,696,000 after purchasing an additional 222,267 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new position in shares of AutoNation in the 2nd quarter worth approximately $306,000. Hedge funds and other institutional investors own 73.44% of the company’s stock.
AutoNation, Inc. (NYSE AN) opened at 46.52 on Thursday. AutoNation, Inc. has a 12-month low of $38.20 and a 12-month high of $53.74. The company has a 50 day moving average of $42.44 and a 200-day moving average of $41.95. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.58 and a beta of 1.22.
AutoNation (NYSE:AN) last announced its earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.12). The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. On average, equities research analysts forecast that AutoNation, Inc. will post $3.59 earnings per share for the current year.
AutoNation declared that its board has approved a stock buyback plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have recently issued reports on AN shares. Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, June 8th. ValuEngine cut shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG reiterated a “hold” rating and set a $46.00 price objective (down previously from $50.00) on shares of AutoNation in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price objective on shares of AutoNation in a research report on Thursday, July 6th. Finally, KeyCorp reiterated a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $45.70.
In other news, Director Robert R. Grusky sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.99, for a total transaction of $109,172.00. Following the completion of the transaction, the director now directly owns 30,713 shares of the company’s stock, valued at approximately $1,197,499.87. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.10% of the company’s stock.
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AutoNation Company Profile
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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