Bank of New York Mellon Corp Purchases 269,376 Shares of AutoNation, Inc. (AN)

Bank of New York Mellon Corp boosted its position in AutoNation, Inc. (NYSE:AN) by 44.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 878,282 shares of the company’s stock after purchasing an additional 269,376 shares during the quarter. Bank of New York Mellon Corp owned about 0.96% of AutoNation worth $41,684,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of AutoNation by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,785,538 shares of the company’s stock worth $286,078,000 after buying an additional 147,424 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of AutoNation by 76.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,181,954 shares of the company’s stock worth $218,471,000 after buying an additional 2,245,935 shares in the last quarter. BlackRock Inc. raised its position in shares of AutoNation by 0.4% during the 2nd quarter. BlackRock Inc. now owns 4,192,696 shares of the company’s stock worth $176,762,000 after buying an additional 17,314 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of AutoNation by 56.3% during the 3rd quarter. Victory Capital Management Inc. now owns 3,266,677 shares of the company’s stock worth $155,036,000 after buying an additional 1,176,042 shares in the last quarter. Finally, Orbis Allan Gray Ltd raised its position in shares of AutoNation by 141.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,444,847 shares of the company’s stock worth $103,075,000 after buying an additional 1,433,472 shares in the last quarter. Hedge funds and other institutional investors own 77.81% of the company’s stock.

In other news, EVP Donna L. Parlapiano sold 3,367 shares of AutoNation stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $51.81, for a total value of $174,444.27. Following the transaction, the executive vice president now directly owns 11,469 shares of the company’s stock, valued at $594,208.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Edward S. Lampert sold 3,480 shares of AutoNation stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $55.61, for a total transaction of $193,522.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,733 shares of company stock worth $676,747. 3.10% of the stock is currently owned by insiders.

A number of analysts recently commented on the stock. Deutsche Bank reiterated a “hold” rating and issued a $43.00 target price (down from $46.00) on shares of AutoNation in a report on Wednesday, August 9th. UBS downgraded shares of AutoNation from a “positive” rating to a “neutral” rating in a report on Thursday, September 28th. KeyCorp reiterated a “hold” rating on shares of AutoNation in a report on Friday, September 1st. Northcoast Research downgraded shares of AutoNation from a “buy” rating to a “neutral” rating in a report on Wednesday, October 4th. Finally, Berenberg Bank assumed coverage on shares of AutoNation in a report on Wednesday, October 4th. They issued a “buy” rating and a $55.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $46.88.

Shares of AutoNation, Inc. (NYSE AN) opened at $55.28 on Thursday. The company has a market cap of $5,095.05, a P/E ratio of 14.47, a P/E/G ratio of 2.31 and a beta of 1.28. The company has a quick ratio of 0.17, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. AutoNation, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $57.83.

AutoNation (NYSE:AN) last released its earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.58 billion. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. analysts predict that AutoNation, Inc. will post 3.76 earnings per share for the current fiscal year.

AutoNation declared that its board has authorized a stock repurchase program on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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AutoNation Profile

AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.

Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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