Bridgewater Associates LP Buys 32,110 Shares of AutoNation, Inc. (NYSE:AN)

Bridgewater Associates LP grew its stake in AutoNation, Inc. (NYSE:AN) by 103.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,233 shares of the company’s stock after purchasing an additional 32,110 shares during the quarter. Bridgewater Associates LP’s holdings in AutoNation were worth $11,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co purchased a new stake in AutoNation in the second quarter worth $838,000. Raymond James & Associates grew its position in shares of AutoNation by 10.7% in the 2nd quarter. Raymond James & Associates now owns 58,084 shares of the company’s stock worth $9,257,000 after buying an additional 5,611 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of AutoNation in the 2nd quarter worth about $602,000. Versor Investments LP bought a new position in shares of AutoNation in the 2nd quarter worth about $673,000. Finally, WINTON GROUP Ltd purchased a new position in AutoNation during the 2nd quarter valued at about $15,832,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AN has been the topic of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $200.00 in a research report on Wednesday, September 25th. Stephens initiated coverage on AutoNation in a research note on Thursday, September 12th. They set an “overweight” rating and a $210.00 price objective for the company. Guggenheim cut their target price on AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. lowered their price target on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

AutoNation Stock Performance

Shares of AN opened at $179.22 on Friday. AutoNation, Inc. has a 12 month low of $130.35 and a 12 month high of $197.18. The business’s fifty day simple moving average is $168.00 and its two-hundred day simple moving average is $168.73. The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 3.76 and a beta of 1.21.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.