Midwest Investment Management Lowers stake in AutoNation (AN)

AutoNation (AN) : Midwest Investment Management reduced its stake in AutoNation by 3.11% during the most recent quarter end. The investment management company now holds a total of 77,455 shares of AutoNation which is valued at $3,830,924 after selling 2,490 shares in AutoNation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.AutoNation makes up approximately 3.03% of Midwest Investment Management’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc boosted its stake in AN in the latest quarter, The investment management firm added 821 additional shares and now holds a total of 18,147 shares of AutoNation which is valued at $897,551. Quantbot Technologies Lp sold out all of its stake in AN during the most recent quarter. The investment firm sold 40,699 shares of AN which is valued $2,003,612.Evercore Wealth Management reduced its stake in AN by selling 3,054 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 638,678 shares of AN which is valued at $31,442,118. AutoNation makes up approx 1.35% of Evercore Wealth Management’s portfolio.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.Shell Asset Management Co boosted its stake in AN in the latest quarter, The investment management firm added 430 additional shares and now holds a total of 3,397 shares of AutoNation which is valued at $175,047.

AutoNation closed down -0.6 points or -1.23% at $48.27 with 11,10,145 shares getting traded on Wednesday. Post opening the session at $48.77, the shares hit an intraday low of $47.92 and an intraday high of $48.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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