Hsbc Holdings PLC Acquires 61,107 Shares of AutoNation, Inc. $AN

Hsbc Holdings PLC grew its holdings in shares of AutoNation, Inc. (NYSE:AN) by 3,322.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,946 shares of the company’s stock after purchasing an additional 61,107 shares during the period. Hsbc Holdings PLC owned approximately 0.18% of AutoNation worth $12,995,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Simcoe Capital Management LLC bought a new stake in AutoNation in the third quarter worth $18,988,000. Emmett Investment Management LP bought a new position in shares of AutoNation during the third quarter valued at $3,496,000. 44 Wealth Management LLC bought a new position in shares of AutoNation during the third quarter valued at $1,378,000. Holocene Advisors LP raised its position in shares of AutoNation by 38.3% in the 3rd quarter. Holocene Advisors LP now owns 548,677 shares of the company’s stock worth $120,034,000 after purchasing an additional 151,966 shares during the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of AutoNation in the 4th quarter worth about $4,130,000. 94.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AN has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective 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. Barclays lifted their target price on shares of AutoNation from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. UBS Group started coverage on shares of AutoNation in a research note on Wednesday, May 27th. They issued a “buy” rating and a $234.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $240.00 price target on shares of AutoNation in a report on Thursday, May 7th. Finally, Citigroup raised their price target on shares of AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.90.

Insider Transactions at AutoNation

In other AutoNation news, CAO Kimberly Dees sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total transaction of $512,275.00. Following the transaction, the chief accounting officer owned 1,456 shares in the company, valued at approximately $298,348.96. This represents a 63.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

AutoNation Trading Down 1.6%

Shares of NYSE:AN opened at $191.72 on Friday. The company has a market cap of $6.42 billion, a P/E ratio of 10.39, a PEG ratio of 1.04 and a beta of 0.74. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.81 and a quick ratio of 0.20. AutoNation, Inc. has a 1 year low of $176.62 and a 1 year high of $228.92. The stock’s fifty day moving average price is $194.80 and its 200-day moving average price is $200.44.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same period last year, the business earned $4.68 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that AutoNation, Inc. will post 21.19 earnings per share for the current year.

AutoNation Company 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.