AlphaQuest LLC Raises Stock Position in Penske Automotive Group, Inc. $PAG

AlphaQuest LLC grew its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 1,292.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,071 shares of the company’s stock after purchasing an additional 19,558 shares during the quarter. AlphaQuest LLC’s holdings in Penske Automotive Group were worth $3,664,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in Penske Automotive Group in the 3rd quarter valued at approximately $33,000. Sound Income Strategies LLC acquired a new stake in shares of Penske Automotive Group in the second quarter valued at $34,000. Acadian Asset Management LLC purchased a new position in Penske Automotive Group in the first quarter valued at $42,000. Blue Trust Inc. grew its stake in Penske Automotive Group by 12.1% during the 2nd quarter. Blue Trust Inc. now owns 785 shares of the company’s stock worth $135,000 after purchasing an additional 85 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Penske Automotive Group by 506.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock worth $151,000 after purchasing an additional 735 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer directly owned 16,822 shares of the company’s stock, valued at approximately $2,694,379.74. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 51.70% of the stock is currently owned by corporate insiders.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $156.55 on Friday. The stock’s 50-day moving average is $163.52 and its two-hundred day moving average is $169.43. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 2.19 and a beta of 0.92. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $189.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.21 and a current ratio of 0.97.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). The firm had revenue of $7.70 billion for 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 company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.39 EPS. Analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

About Penske Automotive Group

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.