AutoNation, Inc. (NYSE:AN) saw a decrease in stake by Allspring Global Investments Holdings LLC during the second quarter, according to the company’s recent 13F filing with the Securities and Exchange Commission. Allspring Global Investments Holdings sold 3,461 shares of AutoNation, reducing its stake in the company by 12%. As a result, the institutional investor now owns 25,466 shares of the company’s stock, valued at $4,192,000.
This reduction in stake is part of a larger trend, as other hedge funds have also been buying and selling shares of AutoNation. For example, Stratos Wealth Partners LTD. recently acquired a new position in AutoNation, valued at around $220,000. Similarly, Hennessy Advisors Inc. increased its stake in the company by 4.7% during the second quarter, and now owns 98,900 shares worth $16,280,000.
It’s also worth noting that AutoNation’s stock has experienced some fluctuations lately. Shares of NYSE AN opened at $136.85 on Friday, with a 50-day simple moving average of $154.28 and a 200-day simple moving average of $147.62. The company has a market cap of $6.03 billion and a beta of 1.16.
AutoNation reported earnings results on July 21st, revealing that the company had surpassed the consensus estimate of $5.91 per share. AutoNation recorded $6.29 earnings per share (EPS) for the quarter, with a net margin of 4.50% and a return on equity of 58.35%. The company had revenue of $6.89 billion for the quarter, slightly higher than analyst estimates.
Several analysts have weighed in on AutoNation’s stock, with Wells Fargo & Company cutting their price objective from $174.00 to $171.00 and giving it an “equal weight” rating. Meanwhile, Morgan Stanley increased its price target from $105.00 to $117.00 and assigned an “underweight” rating. Overall, the stock currently holds an average rating of “Hold” and a consensus target price of $174.57.
In summary, AutoNation has experienced a decrease in stake by Allspring Global Investments Holdings LLC during the second quarter, along with other hedge funds who have been buying and selling shares. Despite fluctuations in the stock, AutoNation reported better-than-expected earnings results and holds an average rating of “Hold” from analysts.
Definitions:
– Stake: An interest or share in a business venture or company.
– 13F Filing: A form filed with the Securities and Exchange Commission by institutional investment managers that discloses their holdings of publicly traded securities.
– Hedge Fund: An investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk management techniques.
– Moving Average: A commonly used statistical calculation that is used to analyze data points by creating a series of averages.
– Market Cap: The total value of a company’s outstanding shares of stock.
– Beta: A measure of a stock’s volatility in relation to the market.
– Earnings Per Share (EPS): The portion of a company’s profit allocated to each outstanding share of common stock.
– Net Margin: A profitability ratio that measures the percentage of revenue left after all expenses, interest, and taxes have been deducted from a company’s total revenue.
– Return on Equity (ROE): A measure of a company’s profitability that indicates how well it is using its shareholders’ equity to generate profits.
– Price Target: The projected price level of a financial security as stated by an investment analyst.
– Average Rating: A summary measure of a stock’s overall attractiveness, based on a consensus of professional research reports.
– Consensus Target Price: An average of individual price target estimates for a security.
Sources:
– AutoNation, Inc. 13F filing with the Securities and Exchange Commission.
– MarketBeat.com analyst reports on AutoNation, Inc.
– AutoNation, Inc. financial statements and earnings report.