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

Slowly but steadily Edward Lampert is getting rid of his massive stake in AutoNation, Inc. (NYSE:AN). In another round of reduction, a total of 145,422 shares were disposed of in 9 transactions at prices varying between $53.86 and $54.02 per unit, as reported in a recent Form 4 filing with the Securities and Exchange Commission. Following this move, Lampert and his fund, ESL Investments, are left holding 22.4 million shares of AutoNation, Inc. (NYSE:AN). During the second quarter, Lamper has decreased his fund’s stake in the company by 5%.

ESL INVESTMENTS

While Lampert has been dumping AutoNation, Inc. (NYSE:AN) shares, Stephen Mandel has boosted his fund’s stake in the company by 27% during the second quarter of 2014. His fund, Lone Pine Capital, has reported ownership of 5.06 million shares valued at roughly $302 million in its latest 13F filing. John Brennan, the manager of Sirios Capital Management, has also been buying shares of AutoNation, Inc. (NYSE:AN) and has increased his fund’s investment in the company by 5% to 2.83 million shares valued at $169 million. Murray Stahl, on the other hand, has chosen to limit his fund’s exposure to this stock, reducing Horizon Asset Management’s stake to 4.81 million shares worth more than $287 million.

An automotive retailer, AutoNation, Inc. (NYSE:AN) has a market cap of $6.34 billion and does not pay a dividend. So far this year, the stock has appreciated by 8% to a current price of $53.46 per share and is traded at a trailing Price to Earnings (P/E) ratio of 16.97. For the second quarter, the company has reported earnings of $0.83 per share and revenues of $4.78 billion, up 8,1% year-over-year. Analysts expect AutoNation, Inc. (NYSE:AN) to register revenues of $4.76 billion and earnings per share of $0.86.

Lands’ End, Inc. (NASDAQ:LE) is a stock Lampers is very optimistic about, having built a massive position during the second quarter of this year. According to the fund’s latest 13F filing, ESL Investments holds 7.95 million shares worth in excess of $267 million. His top position continues to be Sears Holdings Corp (NASDAQ:SHLD), a company that has played a key role in Lampert’s financial success. ESL Investment holds 26.4 million shares valued at $1.05 billion.

Disclosure: none.

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