Lampert Boosts Bet On AutoNation

Feb 14 2008 | 1:11am ET

Edward Lampert’s faith in auto retailer AutoNation Inc. has been rewarded so far this year, and he’s betting that’s just a sign of things to come.

Lampert’s hedge fund, ESL Investments, bought another $20 million worth of AutoNation shares earlier this week, taking its stake up to almost 33%. ESL revealed its new investment in a filing with the Securities and Exchange Commission yesterday.

Shares in Fort Lauderdale, Fla.-based AutoNation are up more than 25% since the middle of January.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…