Horizon Kinetics Lowers stake in AutoNation (AN)

AutoNation (AN) : Horizon Kinetics reduced its stake in AutoNation by 15.44% during the most recent quarter end. The investment management company now holds a total of 2,645,007 shares of AutoNation which is valued at $124,632,730 after selling 482,966 shares in AutoNation , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.AutoNation makes up approximately 3.26% of Horizon Kinetics’s portfolio.

AutoNation closed down -0.65 points or -1.33% at $48.05 with 47,40,104 shares getting traded on Wednesday. Post opening the session at $48.35, the shares hit an intraday low of $46.81 and an intraday high of $48.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Crestpoint Capital Management sold out all of its stake in AN during the most recent quarter. The investment firm sold 13,800 shares of AN which is valued $650,256.Santa Fe Partners boosted its stake in AN in the latest quarter, The investment management firm added 8,438 additional shares and now holds a total of 12,263 shares of AutoNation which is valued at $577,833. AutoNation makes up approx 0.09% of Santa Fe Partners’s portfolio. Daiwa Sb Investments Ltd. added AN to its portfolio by purchasing 4,880 company shares during the most recent quarter which is valued at $229,946. AutoNation makes up approx 0.06% of Daiwa Sb Investments Ltd.’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in AN in the latest quarter, The investment management firm added 1,276 additional shares and now holds a total of 16,136 shares of AutoNation which is valued at $760,328. AutoNation makes up approx 0.02% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, AutoNation reported $0.96 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $1.03. The company had revenue of $5339.80 million for the quarter, compared to analysts expectations of $5458.03 million. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on AutoNation. AutoNation was Initiated by Jefferies to “Hold” on Apr 11, 2016. AutoNation was Downgraded by Goldman to ” Sell” on Mar 8, 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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