MMCAP International Inc. SPC Invests $5.69 Million in AutoNation, Inc. (NYSE:AN)

MMCAP International Inc. SPC purchased a new position in shares of AutoNation, Inc. (NYSE:AN) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 33,500 shares of the company’s stock, valued at approximately $5,690,000. AutoNation comprises 0.9% of MMCAP International Inc. SPC’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of AutoNation by 581.8% during the 4th quarter. Fortitude Family Office LLC now owns 150 shares of the company’s stock worth $25,000 after acquiring an additional 128 shares during the period. Global X Japan Co. Ltd. lifted its holdings in shares of AutoNation by 150.8% during the 4th quarter. Global X Japan Co. Ltd. now owns 158 shares of the company’s stock worth $27,000 after acquiring an additional 95 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of AutoNation by 403.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock worth $50,000 after acquiring an additional 226 shares during the period. McIlrath & Eck LLC lifted its holdings in shares of AutoNation by 16.4% during the 3rd quarter. McIlrath & Eck LLC now owns 964 shares of the company’s stock worth $172,000 after acquiring an additional 136 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of AutoNation during the 3rd quarter worth approximately $201,000. Institutional investors own 94.62% of the company’s stock.

AutoNation Trading Up 0.9 %

Shares of NYSE AN opened at $183.50 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.21 and a current ratio of 0.74. AutoNation, Inc. has a 52-week low of $139.54 and a 52-week high of $198.50. The firm has a 50 day moving average price of $181.56 and a two-hundred day moving average price of $174.28. The stock has a market cap of $7.17 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 3.51 and a beta of 1.25.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $4.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $0.71. AutoNation had a net margin of 2.59% and a return on equity of 30.48%. As a group, equities analysts forecast that AutoNation, Inc. will post 18.15 EPS for the current year.

Analyst Upgrades and Downgrades

AN has been the subject of several research reports. Evercore ISI increased their price objective on shares of AutoNation from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. StockNews.com raised shares of AutoNation from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of AutoNation from $180.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price objective on shares of AutoNation from $170.00 to $194.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Stephens increased their price objective on shares of AutoNation from $195.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, AutoNation currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.71.

AutoNation Company Profile

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.