Caxton Associates LP Invests $1.08 Million in AutoNation, Inc. (NYSE:AN)

Caxton Associates LP purchased a new stake in AutoNation, Inc. (NYSE:AN) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,538 shares of the company’s stock, valued at approximately $1,083,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First United Bank & Trust acquired a new position in AutoNation in the fourth quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new position in AutoNation during the fourth quarter worth about $27,000. Riverview Trust Co acquired a new position in AutoNation during the first quarter worth about $33,000. Jones Financial Companies Lllp acquired a new position in AutoNation during the fourth quarter worth about $30,000. Finally, Avalon Trust Co acquired a new position in AutoNation during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Trading Down 0.5 %

AN stock traded down $0.81 during trading on Tuesday, hitting $177.26. The company had a trading volume of 114,585 shares, compared to its average volume of 427,643. The business has a 50-day moving average of $167.00 and a 200-day moving average of $158.01. AutoNation, Inc. has a one year low of $123.81 and a one year high of $182.81. The stock has a market cap of $7.14 billion, a PE ratio of 8.44, a PEG ratio of 3.48 and a beta of 1.21. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 1.47.

AutoNation (NYSE:AN) last announced its earnings results on Friday, April 26th. The company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.45 by $0.04. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the prior year, the business posted $6.05 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. Research analysts predict that AutoNation, Inc. will post 17.96 earnings per share for the current fiscal year.

AutoNation declared that its Board of Directors has authorized a share repurchase program on Friday, April 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 14.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 23,703 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $172.29, for a total value of $4,083,789.87. Following the transaction, the insider now directly owns 3,980,467 shares of the company’s stock, valued at $685,794,659.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AutoNation news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $176.21, for a total value of $17,621,000.00. Following the transaction, the insider now directly owns 3,880,467 shares of the company’s stock, valued at $683,777,090.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Edward S. Lampert sold 23,703 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $172.29, for a total value of $4,083,789.87. Following the completion of the transaction, the insider now directly owns 3,980,467 shares in the company, valued at $685,794,659.43. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Guggenheim boosted their price target on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Bank of America boosted their price target on AutoNation from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Finally, Evercore ISI boosted their price target on AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, AutoNation currently has a consensus rating of “Moderate Buy” and an average price target of $184.43.

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.