The Verition Fund Management LLC Has $773,000 Position in AutoNation, Inc. (AN), Report finds

The Verition Fund Management LLC Has $773,000 Position in AutoNation, Inc. (AN), Report finds

A number of other hedge funds and other institutional investors also recently bought and sold shares of AN. Public Employees Retirement Association of Colorado increased its position in shares of AutoNation by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 9 shares in the last quarter. Investment Management of Virginia LLC increased its position in shares of AutoNation by 1.0% in the third quarter. Investment Management of Virginia LLC now owns 12,431 shares of the company’s stock valued at $606,000 after buying an additional 125 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of AutoNation by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 19,520 shares of the company’s stock valued at $917,000 after buying an additional 131 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of AutoNation by 3.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,384 shares of the company’s stock valued at $252,000 after buying an additional 197 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of AutoNation by 11.1% in the second quarter. Nordea Investment Management AB now owns 2,285 shares of the company’s stock valued at $107,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 66.76% of the company’s stock.

Verition Fund Management LLC increased its position in shares of AutoNation, Inc. (NYSE:AN) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,878 shares of the company’s stock after buying an additional 1,741 shares during the period. Verition Fund Management LLC’s holdings in AutoNation were worth $773,000 as of its most recent SEC filing.

Shares of AutoNation, Inc. (NYSE:AN) traded up 1.12% during trading on Friday, reaching $47.88. The company’s stock had a trading volume of 798,574 shares. The stock has a market cap of $4.83 billion, a P/E ratio of 11.54 and a beta of 1.05. AutoNation, Inc. has a 52-week low of $39.28 and a 52-week high of $54.15. The stock has a 50-day moving average of $50.65 and a 200-day moving average of $48.16.

AutoNation (NYSE:AN) last released its earnings results on Friday, February 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.18. The company earned $5.50 billion during the quarter, compared to analyst estimates of $5.58 billion. AutoNation had a return on equity of 19.67% and a net margin of 1.99%. AutoNation’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. Analysts predict that AutoNation, Inc. will post $4.08 earnings per share for the current fiscal year.

Several research analysts have recently commented on the company. Susquehanna Bancshares Inc assumed coverage on AutoNation in a research note on Thursday, February 2nd. They set a “neutral” rating and a $49.00 target price for the company. TheStreet raised AutoNation from a “hold” rating to a “buy” rating in a report on Wednesday, January 4th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price target on shares of AutoNation in a report on Monday, February 6th. Evercore ISI cut AutoNation from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Finally, Bank of America Corporation cut AutoNation from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Monday, October 31st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. AutoNation presently has an average rating of “Hold” and a consensus price target of $49.67.

In other AutoNation news, EVP Jonathan P. Ferrando sold 49,347 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $48.88, for a total transaction of $2,412,081.36. 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 4,773 shares of the stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $53.32, for a total value of $254,496.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,120 shares of company stock valued at $2,905,378. 2.90% of the stock is currently owned by corporate insiders.

AutoNation Company Profile

AutoNation, Inc 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.

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