Moran Wealth Management LLC Trims Holdings in AutoNation, Inc. (NYSE:AN)

Moran Wealth Management LLC lessened its holdings in shares of AutoNation, Inc. (NYSE:AN) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,524 shares of the company’s stock after selling 2,185 shares during the period. Moran Wealth Management LLC’s holdings in AutoNation were worth $8,682,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of AutoNation by 90.6% during the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 96 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of AutoNation during the 2nd quarter worth approximately $37,000. Venturi Wealth Management LLC grew its holdings in shares of AutoNation by 403.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock worth $50,000 after acquiring an additional 226 shares during the period. Quarry LP grew its holdings in shares of AutoNation by 498.5% during the 2nd quarter. Quarry LP now owns 407 shares of the company’s stock worth $65,000 after acquiring an additional 339 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of AutoNation during the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AN. Stephens began coverage on AutoNation in a report on Thursday, September 12th. They set an “overweight” rating and a $210.00 target price on the stock. Bank of America cut their price target on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley upgraded AutoNation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $145.00 to $200.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target on AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company cut their price target on AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.00.

AutoNation Stock Performance

AN stock opened at $164.85 on Thursday. The stock has a market capitalization of $6.54 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 3.42 and a beta of 1.21. AutoNation, Inc. has a 12-month low of $130.35 and a 12-month high of $197.18. The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58. The stock’s 50 day simple moving average is $167.10 and its 200 day simple moving average is $168.33.

Insider Activity at AutoNation

In other news, major shareholder Edward S. Lampert sold 39,194 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the transaction, the insider now directly owns 3,786,144 shares of the company’s stock, valued at $694,492,393.92. This represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by insiders.

About AutoNation

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.