Hsbc Holdings PLC Buys 61,107 Shares of AutoNation, Inc. $AN

Hsbc Holdings PLC raised its stake in shares of AutoNation, Inc. (NYSE:AN) by 3,322.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,946 shares of the company’s stock after buying an additional 61,107 shares during the period. Hsbc Holdings PLC’s holdings in AutoNation were worth $12,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AutoNation by 192,434.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,424,431 shares of the company’s stock worth $913,557,000 after acquiring an additional 4,422,133 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AutoNation by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $293,697,000 after acquiring an additional 29,697 shares during the period. Invesco Ltd. lifted its holdings in AutoNation by 11.2% in the third quarter. Invesco Ltd. now owns 907,163 shares of the company’s stock valued at $198,460,000 after acquiring an additional 91,232 shares during the period. State Street Corp boosted its position in AutoNation by 0.6% in the fourth quarter. State Street Corp now owns 895,040 shares of the company’s stock worth $184,808,000 after purchasing an additional 5,489 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in AutoNation by 10.5% in the third quarter. AQR Capital Management LLC now owns 697,927 shares of the company’s stock worth $151,967,000 after purchasing an additional 66,183 shares during the last quarter. 94.62% of the stock is owned by institutional investors.

AutoNation Price Performance

NYSE AN opened at $191.72 on Friday. The company has a market capitalization of $6.42 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.20 and a current ratio of 0.81. The business’s fifty day moving average is $194.80 and its 200 day moving average is $200.44. AutoNation, Inc. has a fifty-two week low of $176.62 and a fifty-two week high of $228.92.

AutoNation (NYSE:AN) last released its quarterly earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.71 by ($0.02). The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.65 billion. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.68 EPS. Sell-side analysts predict that AutoNation, Inc. will post 21.19 earnings per share for the current year.

Insider Buying and Selling at AutoNation

In related news, CAO Kimberly Dees sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total transaction of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares in the company, valued at approximately $298,348.96. The trade was a 63.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AN. Morgan Stanley restated an “overweight” rating and set a $240.00 price target on shares of AutoNation in a research note on Thursday, May 7th. Weiss Ratings raised shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. UBS Group initiated coverage on shares of AutoNation in a report on Wednesday, May 27th. They issued a “buy” rating and a $234.00 price objective on the stock. Bank of America started coverage on shares of AutoNation in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Finally, Wells Fargo & Company upped their target price on shares of AutoNation from $207.00 to $208.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, AutoNation currently has a consensus rating of “Moderate Buy” and an average price target of $246.90.

AutoNation Company Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.