Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 15,960.7% during the 4th quarter, HoldingsChannel reports. The firm owned 66,973 shares of the company’s stock after purchasing an additional 66,556 shares during the quarter. International Assets Investment Management LLC’s holdings in Penske Automotive Group were worth $10,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. raised its stake in Penske Automotive Group by 164.3% during the third quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock worth $48,908,000 after purchasing an additional 181,995 shares during the period. Bank of New York Mellon Corp raised its position in shares of Penske Automotive Group by 43.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock valued at $48,423,000 after buying an additional 87,590 shares during the period. Northern Trust Corp lifted its holdings in Penske Automotive Group by 47.4% in the third quarter. Northern Trust Corp now owns 136,995 shares of the company’s stock valued at $22,886,000 after acquiring an additional 44,044 shares during the last quarter. UBS Group AG lifted its holdings in Penske Automotive Group by 127.5% in the third quarter. UBS Group AG now owns 84,740 shares of the company’s stock valued at $14,157,000 after acquiring an additional 47,488 shares during the last quarter. Finally, Barclays PLC grew its position in Penske Automotive Group by 106.2% in the third quarter. Barclays PLC now owns 84,554 shares of the company’s stock worth $14,126,000 after acquiring an additional 43,550 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the transaction, the director now owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the completion of the transaction, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Penske Automotive Group Price Performance

PAG stock opened at $153.44 on Monday. The business’s fifty day moving average price is $153.72 and its 200 day moving average price is $152.83. Penske Automotive Group, Inc. has a 12-month low of $133.72 and a 12-month high of $180.84. The company has a current ratio of 0.98, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $10.26 billion, a PE ratio of 10.67 and a beta of 1.21.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the company earned $4.31 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PAG shares. Morgan Stanley lifted their target price on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Bank of America increased their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Penske Automotive Group presently has an average rating of “Hold” and a consensus price target of $163.20.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company 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.