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 $129,182,142 after selling 482,966 shares in AutoNation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AutoNation makes up approximately 3.07% of Horizon Kinetics’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P reduced its stake in AN by selling 7,497 shares or 10.28% in the most recent quarter. The Hedge Fund company now holds 65,400 shares of AN which is valued at $3,194,136. AutoNation makes up approx 0.07% of Hbk Investments L P’s portfolio. Trexquant Investment Lp sold out all of its stake in AN during the most recent quarter. The investment firm sold 21,300 shares of AN which is valued $1,040,292.Plante Moran Financial Advisors reduced its stake in AN by selling 40 shares or 22.6% in the most recent quarter. The Hedge Fund company now holds 137 shares of AN which is valued at $6,745.

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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