Treasurer of the State of North Carolina decreased its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,153 shares of the company’s stock after selling 330 shares during the period. Treasurer of the State of North Carolina’s holdings in Penske Automotive Group were worth $811,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. purchased a new position in Penske Automotive Group in the second quarter valued at about $31,000. Pearl River Capital LLC purchased a new position in Penske Automotive Group in the second quarter valued at about $31,000. Tower Research Capital LLC TRC boosted its holdings in Penske Automotive Group by 105.7% in the second quarter. Tower Research Capital LLC TRC now owns 796 shares of the company’s stock valued at $38,000 after purchasing an additional 409 shares during the last quarter. Signaturefd LLC boosted its holdings in Penske Automotive Group by 90.5% in the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $42,000 after purchasing an additional 417 shares during the last quarter. Finally, TD Capital Management LLC purchased a new position in Penske Automotive Group in the second quarter valued at about $43,000. 42.70% of the stock is owned by institutional investors.
In other Penske Automotive Group news, EVP Shane M. Spradlin sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $48.55, for a total transaction of $121,375.00. Following the sale, the executive vice president now owns 41,982 shares in the company, valued at $2,038,226.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 42.60% of the company’s stock.
A number of research analysts recently commented on PAG shares. Morgan Stanley increased their price target on Penske Automotive Group from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. ValuEngine cut Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, Northcoast Research restated a “buy” rating on shares of Penske Automotive Group in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Penske Automotive Group has an average rating of “Hold” and an average price target of $53.75.
Shares of NYSE PAG opened at $44.08 on Friday. The stock’s 50 day moving average price is $44.75 and its two-hundred day moving average price is $45.16. Penske Automotive Group, Inc. has a 52-week low of $38.49 and a 52-week high of $49.28. The stock has a market capitalization of $3.51 billion, a P/E ratio of 8.25, a PEG ratio of 1.46 and a beta of 1.30. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.80.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.17). Penske Automotive Group had a net margin of 2.00% and a return on equity of 16.56%. The firm had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Penske Automotive Group, Inc. will post 5.27 EPS for the current year.
Penske Automotive Group Company 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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