Pallas Capital Advisors LLC Takes Position in AutoNation, Inc. $AN

Pallas Capital Advisors LLC bought a new position in shares of AutoNation, Inc. (NYSE:AN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,610 shares of the company’s stock, valued at approximately $671,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in AutoNation by 8.9% during the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock valued at $3,070,000 after purchasing an additional 1,551 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of AutoNation in the first quarter worth approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AutoNation by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock valued at $15,967,000 after purchasing an additional 9,656 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of AutoNation by 17.3% in the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock valued at $562,000 after purchasing an additional 511 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup increased their price target on AutoNation from $287.00 to $290.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of AutoNation from $235.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Stephens upped their target price on shares of AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of AutoNation from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Finally, Northcoast Research raised shares of AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price target on the stock in a research report on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

AutoNation Stock Performance

Shares of AN opened at $201.06 on Thursday. The stock has a 50 day moving average of $200.31 and a 200 day moving average of $197.86. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.82 and a beta of 0.71. AutoNation, Inc. has a 12 month low of $176.62 and a 12 month high of $235.81. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping the consensus estimate of $5.48 by $0.08. The business had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.26 earnings per share. As a group, sell-side analysts forecast that AutoNation, Inc. will post 21.69 earnings per share for the current year.

Insider Activity at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director directly owned 7,989 shares of the company’s stock, valued at approximately $1,757,580. The trade was a 10.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.