The Manufacturers Life Insurance Company Buys Shares of 18,697 AutoNation, Inc. $AN

The Manufacturers Life Insurance Company purchased a new position in shares of AutoNation, Inc. (NYSE:AN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,697 shares of the company’s stock, valued at approximately $3,474,000. The Manufacturers Life Insurance Company owned 0.06% of AutoNation at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cibc World Market Inc. purchased a new position in shares of AutoNation in the second quarter valued at approximately $2,663,000. Kendall Capital Management purchased a new stake in AutoNation during the 2nd quarter worth approximately $1,423,000. Commerce Bank purchased a new stake in AutoNation during the 2nd quarter worth approximately $203,000. Northwestern Mutual Wealth Management Co. purchased a new stake in AutoNation during the 2nd quarter worth approximately $477,000. Finally, Quantbot Technologies LP acquired a new stake in AutoNation during the 2nd quarter worth approximately $2,540,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Price Performance

AN stock opened at $204.11 on Wednesday. The business has a 50 day moving average price of $201.80 and a 200 day moving average price of $197.25. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.97 and a beta of 0.72. AutoNation, Inc. has a fifty-two week low of $176.62 and a fifty-two week high of $235.81.

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

Insider Activity

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director directly owned 7,989 shares of the company’s stock, valued at $1,757,580. This trade represents a 10.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

AN has been the subject of several recent research reports. Morgan Stanley raised their price target on shares of AutoNation from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Seaport Research Partners reiterated a “buy” rating and issued a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. UBS Group reiterated a “buy” rating and issued a $248.00 target price on shares of AutoNation in a report on Monday, August 3rd. Barclays boosted their target price on AutoNation from $255.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded AutoNation from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

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.