Van ECK Associates Corp Grows Stake in AutoNation, Inc. (NYSE:AN)

Van ECK Associates Corp increased its holdings in AutoNation, Inc. (NYSE:AN) by 209.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,151 shares of the company’s stock after purchasing an additional 12,291 shares during the period. Van ECK Associates Corp’s holdings in AutoNation were worth $2,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Realta Investment Advisors increased its holdings in shares of AutoNation by 5.4% in the fourth quarter. Realta Investment Advisors now owns 1,410 shares of the company’s stock worth $212,000 after purchasing an additional 72 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of AutoNation by 1.9% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,061 shares of the company’s stock worth $610,000 after acquiring an additional 74 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of AutoNation by 4.6% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,712 shares of the company’s stock valued at $257,000 after acquiring an additional 76 shares during the last quarter. Meritage Portfolio Management grew its holdings in shares of AutoNation by 5.6% in the third quarter. Meritage Portfolio Management now owns 1,882 shares of the company’s stock valued at $285,000 after purchasing an additional 99 shares in the last quarter. Finally, Quent Capital LLC increased its position in AutoNation by 1.6% in the fourth quarter. Quent Capital LLC now owns 6,583 shares of the company’s stock worth $989,000 after purchasing an additional 101 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors.

AutoNation Price Performance

Shares of AN stock opened at $164.27 on Wednesday. The stock has a 50 day moving average price of $157.59 and a 200 day moving average price of $146.29. AutoNation, Inc. has a 52-week low of $123.81 and a 52-week high of $182.08. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79. The firm has a market capitalization of $6.62 billion, a P/E ratio of 7.79, a P/E/G ratio of 3.09 and a beta of 1.22.

AutoNation (NYSE:AN) last issued its earnings results on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $6.05 earnings per share. As a group, sell-side analysts predict that AutoNation, Inc. will post 18.73 earnings per share for the current year.

AutoNation declared that its board has initiated a share buyback 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 an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at AutoNation

In related news, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $161.26, for a total value of $16,126,000.00. Following the transaction, the insider now owns 4,167,270 shares of the company’s stock, valued at $672,013,960.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Edward S. Lampert sold 100,000 shares of AutoNation stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $161.26, for a total value of $16,126,000.00. Following the completion of the sale, the insider now directly owns 4,167,270 shares in the company, valued at $672,013,960.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Edward S. Lampert sold 10,804 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.56, for a total transaction of $1,669,866.24. Following the completion of the sale, the insider now directly owns 4,267,860 shares of the company’s stock, valued at $659,640,441.60. The disclosure for this sale can be found here. Insiders sold a total of 131,279 shares of company stock valued at $21,041,962 in the last three months. Company insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America lowered their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Morgan Stanley upgraded AutoNation from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $117.00 to $140.00 in a research report on Thursday, February 29th. Wells Fargo & Company lifted their target price on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Finally, Guggenheim increased their price target on AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.63.

About AutoNation

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.