OLD National Bancorp IN Acquires 354 Shares of AutoNation, Inc. (NYSE:AN)

OLD National Bancorp IN boosted its holdings in AutoNation, Inc. (NYSE:AN) by 13.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,032 shares of the company’s stock after purchasing an additional 354 shares during the quarter. OLD National Bancorp IN’s holdings in AutoNation were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners bought a new position in shares of AutoNation during the 1st quarter valued at approximately $170,270,000. Norges Bank bought a new position in shares of AutoNation during the 4th quarter valued at approximately $42,748,000. Eminence Capital LP raised its holdings in AutoNation by 84.4% during the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock valued at $39,338,000 after buying an additional 119,866 shares during the period. Wedge Capital Management L L P NC raised its holdings in AutoNation by 47.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after buying an additional 109,571 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in AutoNation during the 4th quarter valued at $9,247,000. 94.62% of the stock is currently owned by institutional investors.

AutoNation Stock Up 0.3 %

Shares of AN traded up $0.52 during midday trading on Friday, reaching $170.84. 368,411 shares of the stock were exchanged, compared to its average volume of 461,036. AutoNation, Inc. has a 52 week low of $123.81 and a 52 week high of $197.18. The company has a current ratio of 0.78, a quick ratio of 0.21 and a debt-to-equity ratio of 1.65. The company’s 50 day moving average is $167.91 and its two-hundred day moving average is $159.92. The company has a market capitalization of $6.78 billion, a P/E ratio of 8.10, a PEG ratio of 3.27 and a beta of 1.21.

AutoNation (NYSE:AN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.32). AutoNation had a return on equity of 36.50% and a net margin of 2.93%. The firm had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the previous year, the company posted $6.29 EPS. AutoNation’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoNation, Inc. will post 17.88 earnings per share for the current year.

AutoNation announced that its Board of Directors has authorized a stock repurchase program on Friday, April 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 14.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

AN has been the topic of several recent research reports. Guggenheim increased their price target on AutoNation from $169.00 to $187.00 and gave the company a “buy” rating in a report on Friday, May 17th. Wells Fargo & Company increased their price target on AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on AutoNation from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI increased their price target on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, Bank of America increased their price target on AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AutoNation has a consensus rating of “Moderate Buy” and an average target price of $187.71.

Insider Transactions at AutoNation

In other news, major shareholder Edward S. Lampert sold 53,562 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total transaction of $10,361,568.90. Following the transaction, the insider now owns 3,825,838 shares of the company’s stock, valued at approximately $740,108,361.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the sale, the insider now owns 3,980,467 shares of the company’s stock, valued at $685,794,659.43. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 53,562 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $193.45, for a total value of $10,361,568.90. Following the sale, the insider now directly owns 3,825,838 shares in the company, valued at approximately $740,108,361.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,265 shares of company stock valued at $32,066,359. 0.74% of the stock is currently owned by corporate 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.