Horizon Asset Management Adjusts Positions in AutoNation Inc. (AN) & Two Other Companies
Murray Stahl's Horizon Asset Management now owns five million shares of AutoNation, Inc. (NYSE:AN), which is 4.4% of all outstanding stock, according to a filing with the Securities and Exchange Commission. Previously, the hedge fund was long six million shares of the automotive retailer's stock.
Horizon Asset Management also adjusted their position in Comdisco Holdings Company, Inc (OTCMKTS:CDCO) to 120 thousand shares, or 3% of all outstanding stock. Previously, Mr. Stahl's fund had not disclosed any position in the stock.
Additionally, Horizon Asset Management now owns 2.1 million shares of WisdomTree Investments, Inc (NASDAQ:WETF), which is 1.69% of all outstanding stock. Previously, the company owned 2.6 million shares of the stock.
Recently, Gabelli upgraded AutoNation Inc. (NYSE:AN) from a "hold" to a "buy" based on Q4 performance, stating "At 14x 2014E EPS and less than 12x FY15 EPS of $3.55, we view shares as attractively valued." Further, an analyst for the company stated, "AutoNation shares trade at an approximate 19% discount to our FY15 PMV of $61 per share."
Other funds who are long AutoNation, Inc. (NYSE:AN) include Edward Lampert's ESL Investments, which owns 19.4 million shares, Daniel S. Och's Oz Management, which is long 3.2 million shares, and James Chricton/Adam Weiss' Scout Capital Management, which is long 2.2 million shares. Among the hedge funds Insider Monkey tracks, Horizon Asset Management is the only fund invested in Comdisco Holdings Company, Inc.
Other funds who are long WisdomTree Investments include Robert Pohly's Samlyn Capital, which owns 1.1 million shares, and Ken Heebner's Capital Growth Management, which is long 1 million shares of the stock.
Horizon Asset Management's two largest positions are in Liberty Media Corp (NASDAQ:LMCA), which the fund owns 4.7 million shares of, and Howard Hughes Corp (NYSE:HHC) which it is long 5.3 million shares.