AutoNation, Inc. $AN Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in shares of AutoNation, Inc. (NYSE:AN) by 1,043.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,635 shares of the company’s stock after purchasing an additional 28,869 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AutoNation were worth $6,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Royal Bank of Canada raised its holdings in AutoNation by 8.9% in the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock valued at $3,070,000 after buying an additional 1,551 shares during the period. United Services Automobile Association purchased a new position in AutoNation during the first quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AutoNation by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock worth $15,967,000 after buying an additional 9,656 shares during the period. Focus Partners Wealth increased its position in shares of AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock valued at $562,000 after acquiring an additional 511 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares during the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total transaction of $512,275.00. Following the sale, the chief accounting officer owned 1,456 shares of the company’s stock, valued at approximately $298,348.96. This 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 can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AN. Wells Fargo & Company upped their price objective on shares of AutoNation from $207.00 to $208.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings upgraded AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Barclays upped their price target on AutoNation from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Bank of America assumed coverage on AutoNation in a research note on Wednesday, March 4th. They issued a “buy” rating for the company. Finally, Citigroup boosted their price objective on AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.90.

AutoNation Trading Down 0.0%

Shares of AN stock opened at $191.62 on Monday. AutoNation, Inc. has a fifty-two week low of $176.62 and a fifty-two week high of $228.92. The company has a 50 day moving average price of $194.72 and a 200 day moving average price of $200.27. The stock has a market capitalization of $6.41 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.74. 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 earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the company earned $4.68 earnings per share. AutoNation’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts predict that AutoNation, Inc. will post 21.19 EPS for the current fiscal 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.