43,498 Shares in AutoNation, Inc. $AN Bought by Greenland Capital Management LP

Greenland Capital Management LP purchased a new position in AutoNation, Inc. (NYSE:AN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 43,498 shares of the company’s stock, valued at approximately $8,641,000. AutoNation makes up 0.9% of Greenland Capital Management LP’s holdings, making the stock its 24th largest holding.

Several other large investors have also made changes to their positions in the business. Geneos Wealth Management Inc. grew 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 worth $38,000 after purchasing an additional 64 shares in the last quarter. Parallel Advisors LLC grew its holdings in AutoNation by 45.3% during the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after buying an additional 117 shares in the last quarter. IFP Advisors Inc grew its holdings in AutoNation by 38.0% during the 2nd quarter. IFP Advisors Inc now owns 508 shares of the company’s stock valued at $101,000 after buying an additional 140 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of AutoNation during the first quarter valued at approximately $86,000. Finally, GAMMA Investing LLC lifted its holdings in shares of AutoNation by 33.3% in the second quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after buying an additional 153 shares in the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AN has been the subject of several research analyst reports. Citigroup raised their target price on shares of AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Barclays started coverage on AutoNation in a research report on Tuesday, November 11th. They set an “overweight” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on AutoNation from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Morgan Stanley raised their price target on AutoNation from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AutoNation in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and a consensus price target of $236.44.

AutoNation Trading Up 2.2%

Shares of NYSE AN opened at $197.49 on Wednesday. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.91 and a beta of 0.87. The business’s 50 day moving average price is $210.33 and its 200-day moving average price is $203.19.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 EPS for the quarter, beating the consensus estimate of $4.85 by $0.16. AutoNation had a return on equity of 31.84% and a net margin of 2.38%.The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the prior year, the company posted $4.02 EPS. AutoNation’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that AutoNation, Inc. will post 18.15 earnings per share for the current year.

AutoNation declared that its board has approved a stock buyback program on Friday, October 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

AutoNation Profile

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.