Hsbc Holdings PLC Grows Holdings in AutoNation, Inc. $AN

Hsbc Holdings PLC grew its stake in shares of AutoNation, Inc. (NYSE:AN) by 3,322.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,946 shares of the company’s stock after purchasing an additional 61,107 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of AutoNation worth $12,995,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after acquiring an additional 64 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of AutoNation during the fourth quarter valued at approximately $41,000. Employees Retirement System of Texas bought a new stake in shares of AutoNation during the third quarter valued at approximately $48,000. Smartleaf Asset Management LLC boosted its holdings in shares of AutoNation by 49.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 259 shares of the company’s stock valued at $54,000 after purchasing an additional 86 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in shares of AutoNation in the fourth quarter valued at approximately $57,000. 94.62% of the stock is currently owned by institutional investors.

Insider Activity at AutoNation

In related 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 completion of the sale, the chief accounting officer directly owned 1,456 shares in the company, valued at $298,348.96. This represents a 63.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

AutoNation Stock Performance

Shares of AN stock opened at $191.63 on Wednesday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.02 and a beta of 0.75. The company’s 50 day moving average is $192.38 and its 200 day moving average is $199.04. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62. AutoNation, Inc. has a 52-week low of $176.62 and a 52-week high of $228.92.

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

Wall Street Analyst Weigh In

Several research analysts have commented on AN shares. UBS Group started coverage on AutoNation in a report on Wednesday, May 27th. They set a “buy” rating and a $234.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $240.00 target price on shares of AutoNation in a 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 target on AutoNation from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company decreased their price objective on AutoNation from $208.00 to $202.00 and set an “equal weight” rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.30.

AutoNation 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.