Edward Lampert’s ESL Investments Sells Shares of AutoNation Inc. (AN)

ESL Investments, managed by Edward Lampert, has reduced its exposure to AutoNation Inc. (NYSE:AN), a new filing with the U.S. Securities and Exchange Commission showed. The fund currently holds around 26.20 million shares of AutoNation Inc. (NYSE:AN), down from 27.69 million shares held previously. The new position is equivalent to 21.9% of common stock outstanding.

ESL INVESTMENTS

AutoNation Inc. (NYSE:AN) is an automotive retailer, owning and operating 270 new vehicle franchises, which sell 33 new vehicle brands across 15 states. The company has a market cap of $6.8 billion. The company announced reported retail sales of 30,275 new vehicles in May 2014, representing an increase of 15% as compared to May 2013, according to a news release.

The company posted first-quarter 2014 adjusted net income from continuing operations of $91 million, or $0.75 per share, compared to net income from continuing operations of $83 million, or $0.68 per share, for the same period in the prior year. Revenue was $4.4 billion in the first quarter, compared to $4.1 billion in the year-ago period, showing an increase of 7% driven by stronger performance in all business sectors – new vehicles, used vehicles, parts and service, and finance and insurance.

Aside from ESL Investments, other significant shareholders of the company include Murray Stahl’s Horizon Asset Management and Stephen Mandel’s Lone Pine Capital, owing 4.97 million shares and 3.99 million shares, respectively.

Edward Lampert is chairman of Sears Holdings Corp (NASDAQ:SHLD) and founder, chairman and CEO of ESL Investments. According to Forbes, Lampert is ranked 316th on the list of the world’s richest people, with an estimated net worth of $3 billion. The value of ESL Investments’ equity portfolio was about $2.2 billion as of the end of the first quarter of 2014, according to the fund’s latest 13F.

In April, his fund acquired around 173,600 shares of Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS), holding directly around 5.53 million shares of the company.

Disclosure: none

Recommended Reading:

Barry Rosenstein’s Jana Partners Reduces Exposure To Oil States International Inc. (OIS)

Carl Icahn Acquires Over 9% Stake in Family Dollar Stores Inc. (FDO); Seeking Dialogue To Enhance Value

Hedge Fund Highlights: Warren Buffett, Ray Dalio & Chris Hohn

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!