Dynasty Wealth Management LLC Takes Position in AutoNation, Inc. (NYSE:AN)

Dynasty Wealth Management LLC bought a new stake in AutoNation, Inc. (NYSE:AN) in the 1st quarter, HoldingsChannel.com reports. The firm bought 2,736 shares of the company’s stock, valued at approximately $453,000.

Several other large investors also recently made changes to their positions in AN. First United Bank & Trust bought a new position in shares of AutoNation during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new position in shares of AutoNation during the 4th quarter valued at $27,000. Jones Financial Companies Lllp bought a new stake in shares of AutoNation during the 4th quarter worth $30,000. Avalon Trust Co bought a new stake in shares of AutoNation during the 4th quarter worth $32,000. Finally, Gladius Capital Management LP bought a new stake in AutoNation in the fourth quarter worth $33,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Price Performance

Shares of NYSE:AN traded up $14.04 on Wednesday, reaching $193.45. The company’s stock had a trading volume of 506,529 shares, compared to its average volume of 430,574. AutoNation, Inc. has a 52-week low of $123.81 and a 52-week high of $194.84. The company has a market cap of $7.79 billion, a P/E ratio of 9.23, a PEG ratio of 3.48 and a beta of 1.21. The company has a 50-day simple moving average of $167.20 and a 200 day simple moving average of $158.32. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79.

AutoNation announced that its Board of Directors has initiated a share repurchase plan on Friday, April 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 14.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on AN shares. Guggenheim boosted their price target on shares of AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Bank of America boosted their price target on shares of AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company upped their price objective on shares of AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Evercore ISI upped their target price on shares of AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AutoNation has a consensus rating of “Moderate Buy” and an average price target of $184.43.

Insider Transactions at AutoNation

In other news, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $172.29, for a total value of $4,083,789.87. Following the completion of the sale, the insider now owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $176.21, for a total value of $17,621,000.00. Following the completion of the sale, the insider now owns 3,880,467 shares in the company, valued at $683,777,090.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Edward S. Lampert sold 23,703 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $172.29, for a total value of $4,083,789.87. Following the completion of the sale, the insider now owns 3,980,467 shares of the company’s stock, valued at approximately $685,794,659.43. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

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.