Advantage Alpha Capital Partners LP Lowers Position in Penske Automotive Group, Inc. $PAG

Advantage Alpha Capital Partners LP trimmed its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 21.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,237 shares of the company’s stock after selling 1,189 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Penske Automotive Group were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Penske Automotive Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,004,832 shares of the company’s stock valued at $288,656,000 after purchasing an additional 5,641 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in Penske Automotive Group by 7.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 863,529 shares of the company’s stock valued at $124,331,000 after buying an additional 56,669 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Penske Automotive Group by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after buying an additional 84,045 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Penske Automotive Group by 3.4% in the 1st quarter. Invesco Ltd. now owns 223,630 shares of the company’s stock worth $32,198,000 after buying an additional 7,276 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Penske Automotive Group by 30.9% in the first quarter. Millennium Management LLC now owns 167,905 shares of the company’s stock valued at $24,175,000 after acquiring an additional 39,622 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. lowered their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. Benchmark increased their price objective on Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Morgan Stanley boosted their target price on Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.86.

Penske Automotive Group Trading Down 0.6%

Shares of PAG opened at $162.17 on Friday. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51. The stock has a market cap of $10.68 billion, a PE ratio of 11.41 and a beta of 0.90. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $165.49 and its 200-day moving average price is $171.39.

Penske Automotive Group (NYSE:PAG) last posted its earnings results 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). The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.39 earnings per share. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s payout ratio is currently 38.85%.

Insider Buying and Selling at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 2,100 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $160.17, for a total value of $336,357.00. Following the completion of the transaction, the chief financial officer directly owned 16,822 shares in the company, valued at approximately $2,694,379.74. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 51.70% of the company’s stock.

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.