Geode Capital Management LLC Purchases 14,204 Shares of AutoNation, Inc. $AN

Geode Capital Management LLC raised its position in AutoNation, Inc. (NYSE:AN) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,514 shares of the company’s stock after buying an additional 14,204 shares during the quarter. Geode Capital Management LLC’s holdings in AutoNation were worth $106,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simcoe Capital Management LLC acquired a new stake in shares of AutoNation during the 3rd quarter worth approximately $18,988,000. Cookson Peirce & Co. Inc. acquired a new stake in AutoNation in the third quarter valued at approximately $1,140,000. 44 Wealth Management LLC acquired a new stake in AutoNation in the third quarter valued at approximately $1,378,000. Emmett Investment Management LP acquired a new stake in AutoNation in the third quarter valued at approximately $3,496,000. Finally, Holocene Advisors LP boosted its position in AutoNation by 38.3% in the third quarter. Holocene Advisors LP now owns 548,677 shares of the company’s stock valued at $120,034,000 after buying an additional 151,966 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AN has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of AutoNation from $207.00 to $208.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Stephens raised their target price on shares of AutoNation from $228.00 to $232.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. UBS Group initiated coverage on shares of AutoNation in a research report on Wednesday, May 27th. They issued a “buy” rating and a $234.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $240.00 target price on shares of AutoNation in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and a consensus price target of $246.90.

Insider Activity

In other news, CAO Kimberly Dees sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were 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. This trade represents a 63.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

AutoNation Price Performance

AN stock opened at $188.14 on Friday. The company has a fifty day moving average price of $196.41 and a 200-day moving average price of $202.09. The company has a market capitalization of $6.30 billion, a P/E ratio of 10.19, a PEG ratio of 1.01 and a beta of 0.74. AutoNation, Inc. has a 52-week low of $176.62 and a 52-week high of $228.92. 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 (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 business 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%. AutoNation’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.68 EPS. As a group, equities analysts expect that AutoNation, Inc. will post 21.19 EPS for the current year.

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.