Rbs Partners Lowers stake in AutoNation (AN)

AutoNation (AN) : Rbs Partners reduced its stake in AutoNation by 10.28% during the most recent quarter end. The investment management company now holds a total of 6,093,287 shares of AutoNation which is valued at $297,596,137 after selling 698,053 shares in AutoNation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AutoNation makes up approximately 26.53% of Rbs Partners’s portfolio.

Other Hedge Funds, Including , Leuthold Group boosted its stake in AN in the latest quarter, The investment management firm added 1,681 additional shares and now holds a total of 84,664 shares of AutoNation which is valued at $4,134,990. AutoNation makes up approx 0.44% of Leuthold Group’s portfolio. Global X Management Co added AN to its portfolio by purchasing 10 company shares during the most recent quarter which is valued at $495. Signaturefd sold out all of its stake in AN during the most recent quarter. The investment firm sold 157 shares of AN which is valued $8,376.Ls Investment Advisors boosted its stake in AN in the latest quarter, The investment management firm added 824 additional shares and now holds a total of 6,874 shares of AutoNation which is valued at $357,998. AutoNation makes up approx 0.02% of Ls Investment Advisors’s portfolio.

AutoNation opened for trading at $47.34 and hit $48.41 on the upside on Thursday, eventually ending the session at $48.02, with a gain of 1.41% or 0.67 points. The heightened volatility saw the trading volume jump to 8,64,394 shares. Company has a market cap of $4,902 M.

On the company’s financial health, AutoNation reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.04. The company had revenue of $5441.40 million for the quarter, compared to analysts expectations of $5509.10 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on AutoNation. AutoNation was Initiated by Seaport Global Securities to “Neutral” on Aug 9, 2016.

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 which includes vehicle service and other protection products as well as the arranging of financing for vehicle purchases through third-party finance sources. It operates through three segments: The Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors Ford and Chrysler. The Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota Honda and Nissan. The Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz BMW and Lexus.

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