Bank of Nova Scotia Invests $737,000 in AutoNation, Inc. (NYSE:AN)

Bank of Nova Scotia purchased a new position in shares of AutoNation, Inc. (NYSE:ANGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,593 shares of the company’s stock, valued at approximately $737,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Advisory Services LLC raised its stake in shares of AutoNation by 4.0% during the 1st quarter. Kestra Advisory Services LLC now owns 3,811 shares of the company’s stock worth $379,000 after buying an additional 147 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of AutoNation by 43.6% during the 2nd quarter. Ritholtz Wealth Management now owns 8,169 shares of the company’s stock worth $913,000 after buying an additional 2,480 shares during the last quarter. Garner Asset Management Corp raised its stake in shares of AutoNation by 13.0% during the 2nd quarter. Garner Asset Management Corp now owns 29,478 shares of the company’s stock worth $3,294,000 after buying an additional 3,386 shares during the last quarter. Smith Graham & Co. Investment Advisors LP raised its stake in shares of AutoNation by 3.5% during the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 65,346 shares of the company’s stock worth $6,507,000 after buying an additional 2,198 shares during the last quarter. Finally, Aviva PLC acquired a new position in shares of AutoNation during the 2nd quarter worth $3,710,000. Institutional investors and hedge funds own 81.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AN shares. StockNews.com started coverage on AutoNation in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Bank of America dropped their price objective on AutoNation from $250.00 to $238.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Argus started coverage on AutoNation in a research report on Tuesday, August 23rd. They set a “buy” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. cut AutoNation from an “overweight” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research report on Thursday, October 6th. Finally, Seaport Res Ptn upgraded AutoNation from a “neutral” rating to a “buy” rating in a research report on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.50.

AutoNation Stock Down 0.8 %

AN opened at $119.70 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.05 and a quick ratio of 0.42. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 4.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.12. The business has a 50-day moving average of $107.78 and a two-hundred day moving average of $114.84. AutoNation, Inc. has a 12 month low of $94.92 and a 12 month high of $135.57.

Insider Transactions at AutoNation

In other news, major shareholder Edward S. Lampert sold 23,942 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $125.11, for a total transaction of $2,995,383.62. Following the completion of the sale, the insider now owns 7,241,424 shares in the company, valued at approximately $905,974,556.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Edward S. Lampert sold 75,756 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $110.49, for a total transaction of $8,370,280.44. Following the completion of the sale, the insider now owns 7,124,726 shares in the company, valued at approximately $787,210,975.74. 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 23,942 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $125.11, for a total value of $2,995,383.62. Following the transaction, the insider now directly owns 7,241,424 shares in the company, valued at $905,974,556.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 672,429 shares of company stock worth $72,214,712. 0.64% of the stock is currently owned by company insiders.

About AutoNation

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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.

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Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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