AMI Investment Management Inc. Buys Shares of 33,450 AutoNation, Inc. (NYSE:AN)

AMI Investment Management Inc. purchased a new stake in AutoNation, Inc. (NYSE:AN) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 33,450 shares of the company’s stock, valued at approximately $1,410,000.

Several other institutional investors also recently added to or reduced their stakes in AN. Nationwide Fund Advisors boosted its holdings in shares of AutoNation by 1.9% in the first quarter. Nationwide Fund Advisors now owns 27,268 shares of the company’s stock valued at $1,153,000 after buying an additional 511 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in AutoNation by 35.7% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,943 shares of the company’s stock worth $293,000 after purchasing an additional 1,828 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in AutoNation by 3.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,265 shares of the company’s stock worth $476,000 after purchasing an additional 327 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in AutoNation by 5.2% during the first quarter. Great West Life Assurance Co. Can now owns 58,208 shares of the company’s stock worth $2,460,000 after purchasing an additional 2,880 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in AutoNation by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 180,709 shares of the company’s stock worth $7,642,000 after purchasing an additional 3,003 shares during the last quarter. Institutional investors own 73.44% of the company’s stock.

Shares of AutoNation, Inc. (AN) traded up 0.70% during midday trading on Friday, reaching $46.31. 1,435,150 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $42.76 and a 200 day moving average price of $42.01. AutoNation, Inc. has a 12 month low of $38.20 and a 12 month high of $53.74. The company has a market cap of $4.65 billion, a P/E ratio of 11.53 and a beta of 1.22.

AutoNation (NYSE:AN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.12). The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 EPS. Equities research analysts forecast that AutoNation, Inc. will post $3.59 earnings per share for the current fiscal year.

AutoNation declared that its board has initiated a share buyback plan on Tuesday, August 29th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several analysts have issued reports on AN shares. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Northcoast Research raised shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Thursday, June 8th. Deutsche Bank AG reaffirmed a “hold” rating and set a $46.00 price target (down from $50.00) on shares of AutoNation in a research report on Thursday, June 22nd. KeyCorp reissued a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective on shares of AutoNation in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.70.

In other news, Director Robert R. Grusky sold 2,800 shares of AutoNation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.99, for a total value of $109,172.00. Following the completion of the transaction, the director now owns 30,713 shares in the company, valued at approximately $1,197,499.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

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About AutoNation

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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