Holocene Advisors LP grew its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 38.4% during the second quarter, Holdings Channel reports. The fund owned 54,723 shares of the company’s stock after purchasing an additional 15,171 shares during the period. Holocene Advisors LP’s holdings in Penske Automotive Group were worth $2,118,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of PAG. Jacobi Capital Management LLC grew its stake in shares of Penske Automotive Group by 427.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 3,500 shares of the company’s stock worth $26,000 after buying an additional 2,836 shares during the last quarter. US Bancorp DE grew its stake in shares of Penske Automotive Group by 41.3% in the 1st quarter. US Bancorp DE now owns 1,197 shares of the company’s stock worth $34,000 after buying an additional 350 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Penske Automotive Group in the 2nd quarter worth approximately $63,000. Selective Wealth Management Inc. purchased a new stake in shares of Penske Automotive Group in the 2nd quarter worth approximately $79,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Penske Automotive Group by 42.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,076 shares of the company’s stock worth $86,000 after buying an additional 915 shares during the last quarter. Institutional investors own 38.13% of the company’s stock.
PAG has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Penske Automotive Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. SunTrust Banks increased their target price on Penske Automotive Group from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Northcoast Research downgraded Penske Automotive Group from a “buy” rating to a “neutral” rating in a research note on Friday, July 17th. ValuEngine cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. Finally, TheStreet raised Penske Automotive Group from a “c+” rating to a “b-” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $45.75.
Penske Automotive Group stock traded up $0.11 during trading on Thursday, reaching $49.71. The company had a trading volume of 1,567 shares, compared to its average volume of 285,968. Penske Automotive Group, Inc. has a 52 week low of $19.99 and a 52 week high of $53.81. The firm’s 50-day simple moving average is $47.38 and its 200 day simple moving average is $39.14. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.70. The company has a current ratio of 0.94, a quick ratio of 0.21 and a debt-to-equity ratio of 0.74.
Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, July 29th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. Penske Automotive Group had a return on equity of 11.48% and a net margin of 1.53%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm earned $1.42 EPS. Penske Automotive Group’s revenue for the quarter was down 36.6% compared to the same quarter last year. On average, analysts predict that Penske Automotive Group, Inc. will post 4.19 earnings per share for the current year.
In other Penske Automotive Group news, Director John Barr sold 10,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $48.99, for a total value of $489,900.00. Following the completion of the sale, the director now owns 22,206 shares in the company, valued at approximately $1,087,871.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 44.10% of the company’s stock.
Penske Automotive Group Profile
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.
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