Edward Lampert, ESL Sell Some More AutoNation, Inc. (AN) Shares

Edward Lampert and ESL Investments have revealed, in a new filing with the Securities and Exchange Commission, selling some more shares of AutoNation, Inc. (NYSE:AN). Mr. Lampert revealed selling around 453,700 shares, cutting the position down to a total of some 29.6 million shares.

The stock was sold in 15 transactions, gross proceeds amounting to almost $23 million. Out of the total position, Mr. Lampert directly owns around 14.8 million shares.


Last week, ESL with Mr. Lampert revealed selling another 148,000 shares. The investor have been trimming its holding for some time now, after earlier raising it to 35.5 million shares, from 19.4 million held at the end of September.

The stock of AutoNation, Inc. (NYSE:AN). has been gaining ground and its year-to-date return amounted to over 26% since the beginning of the year. The automotive retailer disclosed selling 25,454 new vehicles during November, which represents a 13% increase over the year. Same-store retale sales amounted to 24,320 new vehicles, up by 8% on the year. Overall, since the beginning of the year, the company reported selling around 266,800 new vehicles, up by 11% on the year, the company said in a statement.

In the third quarter, the revenue of AutoNation, Inc. (NYSE:AN) increased by an annual 14% to $4.5 billion. The EPS totaled $0.75 per shares, up by 14% on the year, which is an all-time record for the company.

Aside from ESL, Murray Stahl’s Horizon Asset Management disclosed holding 6.1 million shares of AutoNation, Inc. (NYSE:AN) in the latest round of 13F filings, with a reported value of $317.1 million. Daniel S. Och’s Oz Management disclosed an $171.2 million stake, which amasses 3.3 million shares, and Scout Capital Management, led by James Crichton And Adam Weiss, held 2.2 million shares at the end of September, worth $114.8 million.

In addition to AutoNation, Inc. (NYSE:AN), ESL, last week, disclosed reducing its position in its largest holding, Sears Holdings Corp (NASDAQ:SHLD). The fund has cut the stake to 51.6 million shares, from 55.9 million held earlier. Currently, Lampert and ESL aggregate stake amasses 48.4% of Sears’ common stock.

Disclosure: none