Penske Automotive Group, Inc. $PAG Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 1,292.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,071 shares of the company’s stock after purchasing an additional 19,558 shares during the period. AlphaQuest LLC’s holdings in Penske Automotive Group were worth $3,664,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC acquired a new stake in shares of Penske Automotive Group during the third quarter worth $33,000. Sound Income Strategies LLC purchased a new position in Penske Automotive Group during the 2nd quarter worth $34,000. Acadian Asset Management LLC acquired a new stake in shares of Penske Automotive Group in the 1st quarter worth $42,000. Blue Trust Inc. lifted its stake in shares of Penske Automotive Group by 12.1% in the 2nd quarter. Blue Trust Inc. now owns 785 shares of the company’s stock worth $135,000 after acquiring an additional 85 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Penske Automotive Group by 506.9% in the second quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after acquiring an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

PAG has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Barclays reduced their price target on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Bank of America assumed coverage on Penske Automotive Group in a report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.71.

Penske Automotive Group Trading Down 1.8%

Shares of PAG stock opened at $156.55 on Friday. The stock has a market cap of $10.31 billion, a P/E ratio of 11.02, a P/E/G ratio of 2.19 and a beta of 0.92. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week high of $189.51. The business has a fifty day simple moving average of $163.52 and a 200-day simple moving average of $169.43.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.25). Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the prior year, the firm earned $3.39 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michelle Hulgrave sold 2,100 shares of Penske Automotive Group stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.17, for a total transaction of $336,357.00. Following the completion of the sale, the chief financial officer directly owned 16,822 shares in the company, valued at $2,694,379.74. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 51.70% of the company’s stock.

Penske Automotive Group Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.