A Closer Look at the Recent Investments in Penske Automotive Group

3 min read

In the fourth quarter, Strs Ohio augmented its stake in Penske Automotive Group, Inc. by 18.5%, now possessing 13,314 shares of the company’s stock valued at $2,137,000. This increase in shares primarily resulted from the purchase of an additional 2,079 shares during the period.

This trend extends beyond Strs Ohio as other hedge funds have also been adjusting their positions in PAG. In the third quarter, Venturi Wealth Management LLC escalated its holdings in Penske Automotive Group by 113.6% and currently owns 173 shares valued at $29,000. Similarly, FinTrust Capital Advisors LLC initiated a new stake in Penske Automotive Group during the third quarter, amounting to $35,000. Additionally, Grove Bank & Trust raised its stake in PAG by 100.0% in the third quarter and currently possesses 250 shares valued at $42,000.

Furthermore, the surge in shares can also be accredited to the activities of other parties such as Quantbot Technologies LP and Blue Trust Inc. Quantbot Technologies LP procured a new position in Penske Automotive Group in the second quarter worth $55,000, while Blue Trust Inc. increased its stake in the company by 91.2% during the fourth quarter, and now possesses 346 shares valued at $58,000.

Consequently, institutional investors currently hold 77.08% of the company’s stock.

In terms of analyst ratings, Morgan Stanley recently revised its price projection on shares of Penske Automotive Group from $107.00 to $115.00, and awarded the company an “underweight” rating. Conversely, Bank of America increased their price target on shares of Penske Automotive Group from $175.00 to $180.00 and issued the stock a “buy” rating. According to MarketBeat.com, the stock currently holds a consensus rating of “Hold” and an average target price of $163.20, with two sell ratings, two hold ratings, and two buy ratings.

Significantly, insider activity at Penske Automotive Group has garnered attention. Director John Barr recently sold 1,600 shares of the company’s stock in a transaction, with a total value of $246,480.00. Furthermore, Director Greg C. Smith sold 1,604 shares of the stock in a transaction that took place on Friday, February 16th, amounting to $239,605.52. Currently, insiders own 51.70% of the company’s stock.

On the stock market, PAG opened at $147.94 on Friday with a market cap of $9.92 billion. The company possesses a price-to-earnings ratio of 9.56 and a beta of 1.19. Its 50-day simple moving average stands at $153.11, while its 200-day simple moving average is $152.90. Penske Automotive Group, Inc. has a twelve month low of $133.72 and a twelve month high of $180.84.

The company last reported its quarterly earnings data on Wednesday, February 7th, where they disclosed $3.45 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.21).

Penske Automotive Group operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors. With a return on equity of 24.19%, the company is anticipated to post 13.8 EPS for the current fiscal year.

For the latest 13F filings and insider trades for Penske Automotive Group, Inc., visit HoldingsChannel.com.