Versor Investments LP Lowers Stock Holdings in AutoNation, Inc. $AN

Versor Investments LP trimmed its position in shares of AutoNation, Inc. (NYSE:AN) by 48.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,868 shares of the company’s stock after selling 5,598 shares during the quarter. Versor Investments LP’s holdings in AutoNation were worth $1,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in AutoNation in the 2nd quarter valued at about $62,613,000. Squarepoint Ops LLC boosted its stake in AutoNation by 219.6% in the second quarter. Squarepoint Ops LLC now owns 316,923 shares of the company’s stock valued at $62,957,000 after acquiring an additional 217,774 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of AutoNation by 51.8% in the 2nd quarter. AQR Capital Management LLC now owns 631,744 shares of the company’s stock valued at $125,439,000 after purchasing an additional 215,577 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of AutoNation in the third quarter valued at approximately $34,601,000. Finally, Invesco Ltd. boosted its stake in AutoNation by 20.6% during the 2nd quarter. Invesco Ltd. now owns 815,931 shares of the company’s stock worth $162,085,000 after purchasing an additional 139,363 shares during the period. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays decreased their price objective on AutoNation from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Citigroup upped their price target on shares of AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective for the company in a research note on Friday, January 16th. Wells Fargo & Company raised their target price on shares of AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a report on Sunday. Finally, Morgan Stanley raised their price target on AutoNation from $225.00 to $233.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.56.

AutoNation Price Performance

AN stock opened at $210.23 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.20 and a debt-to-equity ratio of 1.93. AutoNation, Inc. has a 12-month low of $148.33 and a 12-month high of $228.92. The company has a market cap of $7.67 billion, a PE ratio of 12.32 and a beta of 0.88. The stock has a 50-day moving average price of $211.88 and a two-hundred day moving average price of $210.40.

AutoNation (NYSE:AN) last posted its earnings results on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.17. AutoNation had a net margin of 2.35% and a return on equity of 31.30%. The firm had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the company earned $4.97 EPS. The company’s revenue was down 3.9% on a year-over-year basis. As a group, research analysts predict that AutoNation, Inc. will post 18.15 EPS for the current year.

AutoNation declared that its Board of Directors has authorized a stock repurchase plan on Friday, October 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

AutoNation 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.