Garner Asset Management Corp Boosts Stock Position in AutoNation, Inc. (NYSE:AN)

Garner Asset Management Corp raised its stake in AutoNation, Inc. (NYSE:AN) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,958 shares of the company’s stock after purchasing an additional 716 shares during the period. AutoNation accounts for approximately 1.5% of Garner Asset Management Corp’s investment portfolio, making the stock its 15th largest holding. Garner Asset Management Corp’s holdings in AutoNation were worth $3,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of AutoNation by 90.6% during the second quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 96 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of AutoNation during the second quarter worth about $37,000. Venturi Wealth Management LLC lifted its holdings in shares of AutoNation by 403.6% during the third quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock worth $50,000 after purchasing an additional 226 shares during the period. Quarry LP lifted its holdings in shares of AutoNation by 498.5% during the second quarter. Quarry LP now owns 407 shares of the company’s stock worth $65,000 after purchasing an additional 339 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of AutoNation during the second quarter worth about $103,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Trading Up 1.4 %

Shares of AN stock opened at $172.46 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.80 and a quick ratio of 0.20. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 3.55 and a beta of 1.21. The stock has a 50 day simple moving average of $167.39 and a 200-day simple moving average of $168.38. AutoNation, Inc. has a 1-year low of $130.35 and a 1-year high of $197.18.

Insider Transactions at AutoNation

In related news, major shareholder Edward S. Lampert sold 39,194 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,786,144 shares in the company, valued at approximately $694,492,393.92. The trade was a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

AN has been the subject of a number of research reports. Guggenheim decreased their target price on AutoNation from $190.00 to $189.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price target on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Stephens initiated coverage on AutoNation in a report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price target for the company. Wells Fargo & Company decreased their price target on AutoNation from $187.00 to $181.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Finally, Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $200.00 in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.29.

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.