Redwood Investment Management LLC Makes New $1.17 Million Investment in AutoNation, Inc. $AN

Redwood Investment Management LLC purchased a new position in shares of AutoNation, Inc. (NYSE:AN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,305 shares of the company’s stock, valued at approximately $1,171,000.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup increased their target price on AutoNation from $287.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Wells Fargo & Company upped their price target on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their price objective on AutoNation from $235.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley lifted their price objective on AutoNation from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Stephens boosted their target price on AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoNation presently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Insider Activity at AutoNation

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the completion of the sale, the director owned 7,989 shares of the company’s stock, valued at $1,757,580. This represents a 10.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

AutoNation Stock Performance

Shares of AN stock opened at $196.37 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. The company has a market cap of $6.49 billion, a PE ratio of 9.10, a P/E/G ratio of 0.82 and a beta of 0.71. The company’s fifty day simple moving average is $200.86 and its 200-day simple moving average is $197.51. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The firm had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the company earned $2.26 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that AutoNation, Inc. will post 21.69 EPS for the current year.

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.