Renaissance Technologies LLC Decreases Stock Position in AutoNation, Inc. $AN

Renaissance Technologies LLC lessened its position in shares of AutoNation, Inc. (NYSE:AN) by 13.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,500 shares of the company’s stock after selling 14,500 shares during the period. Renaissance Technologies LLC’s holdings in AutoNation were worth $17,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of AutoNation in the fourth quarter worth about $41,000. Employees Retirement System of Texas bought a new stake in shares of AutoNation in the third quarter valued at approximately $48,000. Smartleaf Asset Management LLC lifted its stake in shares of AutoNation by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 259 shares of the company’s stock valued at $54,000 after buying an additional 86 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in shares of AutoNation during the 4th quarter valued at approximately $57,000. Institutional investors own 94.62% of the company’s stock.

AutoNation Trading Down 5.8%

Shares of AN stock opened at $216.67 on Friday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.20 and a current ratio of 0.81. AutoNation, Inc. has a 52-week low of $176.62 and a 52-week high of $235.81. The company has a market capitalization of $7.25 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.97 and a beta of 0.75. The business’s fifty day moving average is $195.17 and its 200 day moving average is $198.38.

AutoNation (NYSE:AN) last posted its earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.71 by ($0.02). The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.65 billion. AutoNation had a return on equity of 31.45% and a net margin of 2.47%.AutoNation’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.68 earnings per share. On average, equities research analysts anticipate that AutoNation, Inc. will post 21.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AN has been the subject of a number of recent research reports. UBS Group assumed coverage on shares of AutoNation in a research note on Wednesday, May 27th. They issued a “buy” rating and a $234.00 price objective for the company. Northcoast Research upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 target price on the stock in a research report on Tuesday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $240.00 price target on shares of AutoNation in a report on Thursday, May 7th. Citigroup lifted their price target on AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Company dropped their price objective on AutoNation from $208.00 to $202.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, AutoNation presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.18.

Insider Activity at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the business’s stock in a transaction dated 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 owned 1,456 shares of the company’s stock, valued at approximately $298,348.96. The trade was a 63.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

About AutoNation

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.