Evercore Wealth Management Lowers stake in AutoNation (AN)

AutoNation (AN) : Evercore Wealth Management reduced its stake in AutoNation by 0.48% during the most recent quarter end. The investment management company now holds a total of 638,678 shares of AutoNation which is valued at $31,442,118 after selling 3,054 shares in AutoNation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.AutoNation makes up approximately 1.35% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , Todd Asset Management sold out all of its stake in AN during the most recent quarter. The investment firm sold 472,573 shares of AN which is valued $23,264,769.Huntington National Bank boosted its stake in AN in the latest quarter, The investment management firm added 270 additional shares and now holds a total of 311 shares of AutoNation which is valued at $16,026.Capstone Asset Management Co reduced its stake in AN by selling 2,670 shares or 14.71% in the most recent quarter. The Hedge Fund company now holds 15,476 shares of AN which is valued at $783,859. AutoNation makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

AutoNation opened for trading at $49.38 and hit $50.06 on the upside on Thursday, eventually ending the session at $49.46, with a gain of 0.47% or 0.23 points. The heightened volatility saw the trading volume jump to 8,68,771 shares. Company has a market cap of $5,049 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.

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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