Simcoe Capital Management LLC Invests $42.26 Million in AutoNation, Inc. (NYSE:AN)

Simcoe Capital Management LLC bought a new stake in AutoNation, Inc. (NYSE:AN) in the third quarter, HoldingsChannel reports. The fund bought 236,165 shares of the company’s stock, valued at approximately $42,255,000. AutoNation accounts for 5.5% of Simcoe Capital Management LLC’s portfolio, making the stock its 7th biggest position.

A number of other institutional investors have also recently bought and sold shares of AN. GAMMA Investing LLC raised its holdings in AutoNation by 90.6% in the second quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 96 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in AutoNation in the 2nd quarter valued at about $37,000. Venturi Wealth Management LLC lifted its holdings in AutoNation by 403.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock valued at $50,000 after acquiring an additional 226 shares during the last quarter. Quarry LP lifted its holdings in AutoNation by 498.5% in the 2nd quarter. Quarry LP now owns 407 shares of the company’s stock valued at $65,000 after acquiring an additional 339 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in AutoNation during the second quarter valued at about $103,000. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley upgraded AutoNation from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $200.00 in a report on Wednesday, September 25th. Wells Fargo & Company cut their price objective on AutoNation from $187.00 to $181.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Guggenheim lowered their price objective on AutoNation from $190.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Bank of America cut their price objective on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered their price target on AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $199.29.

AutoNation Stock Down 0.2 %

AN stock opened at $178.89 on Monday. The business has a 50 day moving average of $168.10 and a 200 day moving average of $168.86. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58. AutoNation, Inc. has a twelve month low of $133.01 and a twelve month high of $197.18. The firm has a market cap of $7.09 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 3.75 and a beta of 1.21.

AutoNation Company 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.