OP Asset Management Ltd Invests $635,000 in AutoNation, Inc. $AN

OP Asset Management Ltd purchased a new stake in shares of AutoNation, Inc. (NYSE:AN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,252 shares of the company’s stock, valued at approximately $635,000.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its holdings in AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of AutoNation during the 4th quarter worth approximately $41,000. Employees Retirement System of Texas acquired a new stake in shares of AutoNation during the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC raised its position in shares of AutoNation by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 259 shares of the company’s stock valued at $54,000 after buying an additional 86 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in AutoNation in the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Insiders Place Their Bets

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

AutoNation Trading Down 1.6%

AN opened at $185.90 on Wednesday. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $228.92. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62. The business has a fifty day simple moving average of $194.08 and a 200-day simple moving average of $199.83. The firm has a market cap of $6.22 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.01 and a beta of 0.74.

AutoNation (NYSE:AN) last posted its earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.71 by ($0.02). AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the previous year, the company posted $4.68 EPS. AutoNation’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts expect that AutoNation, Inc. will post 21.24 earnings per share for the current year.

Analysts Set New Price Targets

AN has been the topic of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $240.00 target price on shares of AutoNation in a research report on Thursday, May 7th. Weiss Ratings raised AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Barclays raised their price objective on AutoNation from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group started coverage on shares of AutoNation in a research report on Wednesday, May 27th. They issued a “buy” rating and a $234.00 target price on the stock. Finally, Citigroup increased their target price on shares of AutoNation from $269.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.90.

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.