Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. AutoNation Inc. shares valued at $838,200 were sold by CANNON MARC G on Mar 09. At $144.52 per share, CANNON MARC G sold 5,800 shares. The insider’s holdings dropped to 18,279 shares worth approximately $2.29 million following the completion of this transaction.
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Also, CANNON MARC G sold 3,000 shares, netting a total of over 426,000 in proceeds. Following the sale of shares at $142.00 each, the insider now holds 24,079 shares.
Before that, EDMUNDS C COLEMAN had sold 9,445 shares from its account. In a trade valued at $1,323,324, the EVP, Gen Counsel & Corp Sec traded AutoNation Inc. shares for $140.11 each. Upon closing the transaction, the insider’s holdings decreased to 9,445 shares, worth approximately $1.71 million.
As published in a research note from JP Morgan on February 21, 2023, AutoNation Inc. [AN] has been rated down from a Neutral to an Underweight and the price target has been revised to $130 from $125. This represents a 3.45% premium over Wednesday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid January. As of January 13, 2023, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for AN. Earlier on October 06, 2022, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for AN stock which previously was a “an Overweight”.
Analyzing AN Stock Performance
On Wednesday, AutoNation Inc. [NYSE: AN] plunged -1.46% to $125.51. The stock’s lowest price that day was $120.26, but it reached a high of $125.7275 in the same session. During the last five days, there has been a drop of approximately -11.94%. Over the course of the year, AutoNation Inc. shares have jumped approximately 16.97%. Shares of the company reached a 52-week high of $158.30 on 02/17/23 and a 52-week low of $104.31 on 01/17/23. A 50-day SMA is recorded $128.30, while a 200-day SMA reached $117.87. Nevertheless, trading volume fell to 1.38 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for AutoNation Inc. (AN)
According to the 24-hour chart, there is a support level at 121.94, which, if violated, would cause prices to drop to 118.37. In the upper region, resistance lies at 127.40. The next price resistance is at 129.30. RSI (Relative Strength Index) is 37.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.67, which suggests the price will decrease in the coming days. Percent R is at 78.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is AutoNation Inc. subject to short interest?
Stocks of AutoNation Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.27 million shares to 7.1 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 6.83 million shares. A jump of 3.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 10.14 of the overall float, the days-to-cover ratio (short ratio) jumped to 10.14.
Which companies own the most shares of AutoNation Inc. (AN)?
According to The Vanguard Group, Inc. filings, the company currently owns 4,098,063 shares, which is about 8.74% of the total AN shares outstanding. The investor’s shares have plunged by -424,797 from its previous 13-F filing of 4522860.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $394,798,387. Dimensional Fund Advisors LP reduced a -5.44% interest valued at $342.36 million while Arrowstreet Capital LP purchased a 414,240 stake. A total of -98,348 shares of AutoNation Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -259,132 were sold by Artisan Partners LP. In its current portfolio, AQR Capital Management LLC holds 1,018,566 shares valued at $139.04 million.
In terms of AutoNation Inc. share price expectations, FactSet research, analysts set an average price target of $160.33 in the next 12 months, up nearly 33.47% from the previous closing price of $127.37. Analysts anticipate AutoNation Inc. stock to reach $205.00 by 2023, with the lowest price target being $96.00. In spite of this, 13 analysts ranked AutoNation Inc. stock as an Overweight at the end of 2023. On August 23, 2022, Argus assigned a price target of “a Buy” to the stock and initiated coverage with a $150.