Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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%.


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.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.