The main shareholder of AutoNation, Inc. (NYSE: AN) Cascade Investment, LLC sold 183,783 shares of AutoNation in a transaction dated Wednesday, September 29. The shares were sold for an average price of $ 127.67, for a total value of $ 23,463,575.61. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Major shareholders who own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Cascade Investment, LLC also recently completed the following transactions:
- On Monday, September 27, Cascade Investment, LLC sold 222,744 AutoNation shares. The stock was sold for an average price of $ 125.13, for a total trade of $ 27,871,956.72.
- On Friday, September 24, Cascade Investment, LLC sold 58,099 AutoNation shares. The stock was sold at an average price of $ 124.02, for a total transaction of $ 7,205,437.98.
- On Friday, September 24, Cascade Investment, LLC sold 58,099 AutoNation shares. The shares were sold at an average price of $ 124.02, for a total transaction of $ 7,205,437.98.
AutoNation shares traded down $ 2.34 during trading hours on Friday, reaching $ 11,942. 1,026,718 shares of the company were traded, compared to its average volume of 943,851. AutoNation, Inc. has a twelve-month low of $ 53.63 and a twelve-month high of $ 129.65 . The stock has a 50-day simple moving average of $ 115.22 and a 200-day simple moving average of $ 103.95. The company has a quick ratio of 0.34, a current ratio of 0.92, and a debt ratio of 0.63. The company has a market cap of $ 8.55 billion, a PE ratio of 10.40, a PEG ratio of 0.35 and a beta of 1.60.
AutoNation (NYSE: AN) last released its results on Sunday, July 18. The company reported earnings per share of $ 4.83 for the quarter, beating the consensus estimate of $ 2.81 of $ 2.02 by Thomson Reuters. AutoNation had a net margin of 3.98% and a return on equity of 33.01%. The company posted revenue of $ 6.98 billion in the quarter, compared to a consensus estimate of $ 6.07 billion. In the same quarter of the previous year, the company achieved EPS of $ 1.41. The company’s revenue increased 53.9% year-over-year. As a group, equity research analysts predict that AutoNation, Inc. will post 14.84 EPS for the current year.
AutoNation said its board of directors approved a share buyback program on Monday, July 19 that allows the company to repurchase $ 1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 10.6% of its shares by way of purchase on the market. Share buyback programs are usually an indication that company management believes its shares are undervalued.
AN has been the subject of a number of research analyst reports. Morgan Stanley lifted AutoNation from an “underweight” rating to an “equal weight” rating and raised its price target for the stock from $ 70.00 to $ 116.00 in a research note on Tuesday. Bank of America raised its price target on AutoNation from $ 161.00 to $ 171.00 and gave the stock a “buy” rating in a report released on Friday, July 16. Finally, Truist raised its target price on AutoNation from $ 100.00 to $ 110.00 and gave the company a “conservation” rating in a report released on Tuesday, July 20. Five investment analysts gave the stock a conservation rating and two gave the stock a buy rating. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $ 115.33.
Several institutional investors and hedge funds have recently changed their holdings in the company. Logan Capital Management Inc. acquired a new position in AutoNation in Q1 valued at approximately $ 26,000. Van ECK Associates Corp bought a new position in AutoNation in the first quarter valued at $ 27,000. Heritage Wealth Management LLC increased its position in AutoNation shares by 89.2% during the 2nd quarter. Heritage Wealth Management LLC now owns 350 shares of the company valued at $ 33,000 after purchasing 165 additional shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in AutoNation during the 2nd quarter worth approximately $ 37,000. Finally, the Canada Pension Plan Investment Board acquired a new position in AutoNation shares during the second quarter valued at $ 55,000. Institutional investors hold 59.75% of the company’s shares.
AutoNation, Inc is engaged in the provision of automotive products and services. It operates through the following segments: domestic, import, high-end luxury and corporate and others. The domestic segment includes retail auto franchises that sell new vehicles manufactured by General Motors, Ford and Chrysler.
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