Dynasty Wealth Management LLC acquired a new position in shares of AutoNation, Inc. (NYSE:AN – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,736 shares of the company’s stock, valued at approximately $453,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of AN. Norges Bank bought a new stake in AutoNation during the fourth quarter worth approximately $42,748,000. Eminence Capital LP boosted its position in shares of AutoNation by 84.4% during the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock valued at $39,338,000 after acquiring an additional 119,866 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of AutoNation by 47.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after acquiring an additional 109,571 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of AutoNation during the 4th quarter valued at about $9,247,000. Finally, UBS Group AG boosted its position in AutoNation by 696.2% in the fourth quarter. UBS Group AG now owns 45,191 shares of the company’s stock valued at $6,787,000 after buying an additional 39,515 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.
Insider Buying and Selling at AutoNation
In related news, major shareholder Edward S. Lampert sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $176.21, for a total value of $17,621,000.00. Following the transaction, the insider now directly owns 3,880,467 shares in the company, valued at $683,777,090.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Edward S. Lampert sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $176.21, for a total value of $17,621,000.00. Following the transaction, the insider now directly owns 3,880,467 shares in the company, valued at $683,777,090.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Edward S. Lampert sold 23,703 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the transaction, the insider now owns 3,980,467 shares in the company, valued at $685,794,659.43. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
AutoNation Stock Performance
AutoNation declared that its Board of Directors has approved a share repurchase plan on Friday, April 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 14.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
AN has been the topic of a number of research reports. Wells Fargo & Company upped their target price on shares of AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Bank of America increased their price target on shares of AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Guggenheim raised their target price on shares of AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Evercore ISI raised their target price on shares of AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.43.
Check Out Our Latest Research Report on AN
AutoNation Company Profile
AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.
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