Traders Purchase Large Volume of AutoNation Put Options (NYSE:AN)

AutoNation, Inc. (NYSE:AN) was the target of some unusual options trading activity on Thursday. Stock traders bought 2,973 put options on the stock. This is an increase of 402% compared to the average daily volume of 592 put options.

AutoNation Trading Up 0.5 %

AN opened at $154.20 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.23 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $6.43 billion, a PE ratio of 6.80, a PEG ratio of 1.23 and a beta of 1.24. AutoNation has a 1-year low of $123.81 and a 1-year high of $182.08. The firm has a 50-day moving average price of $152.18 and a two-hundred day moving average price of $144.01.

AutoNation (NYSE:AN) last issued its earnings results on Tuesday, February 13th. The company reported $5.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.85 by $0.17. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.67 billion. AutoNation had a net margin of 3.79% and a return on equity of 48.76%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.37 EPS. As a group, equities analysts anticipate that AutoNation will post 18.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AN has been the subject of a number of research reports. Bank of America reduced their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company increased their price target on shares of AutoNation from $144.00 to $150.00 and gave the company an “equal weight” rating in a report on Wednesday, February 14th. Evercore ISI initiated coverage on shares of AutoNation in a report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price target for the company. Morgan Stanley raised shares of AutoNation from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $117.00 to $140.00 in a report on Thursday, February 29th. Finally, StockNews.com downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and an average target price of $174.25.

Insider Activity at AutoNation

In other news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the sale, the insider now owns 4,167,270 shares in the company, valued at $672,013,960.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AutoNation news, major shareholder Edward S. Lampert sold 380,497 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $143.12, for a total value of $54,456,730.64. Following the transaction, the insider now owns 4,278,664 shares in the company, valued at approximately $612,362,391.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the transaction, the insider now owns 4,167,270 shares in the company, valued at approximately $672,013,960.20. The disclosure for this sale can be found here. Insiders sold a total of 501,776 shares of company stock valued at $73,818,692 over the last ninety days. Insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Europe London LLP bought a new position in AutoNation in the fourth quarter valued at approximately $25,000. First United Bank & Trust bought a new position in AutoNation in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC bought a new position in AutoNation in the fourth quarter valued at approximately $27,000. Anchor Investment Management LLC acquired a new stake in shares of AutoNation in the fourth quarter valued at approximately $28,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of AutoNation in the fourth quarter valued at approximately $30,000. Institutional investors own 94.62% 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.