Alps Advisors Inc. Takes Position in Penske Automotive Group, Inc. $PAG

Alps Advisors Inc. acquired a new stake in Penske Automotive Group, Inc. (NYSE:PAG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 32,112 shares of the company’s stock, valued at approximately $5,585,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in Penske Automotive Group in the 3rd quarter valued at about $33,000. Acadian Asset Management LLC purchased a new position in shares of Penske Automotive Group in the first quarter valued at approximately $42,000. Jones Financial Companies Lllp grew its holdings in shares of Penske Automotive Group by 11.0% in the third quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock valued at $116,000 after purchasing an additional 67 shares in the last quarter. Blue Trust Inc. increased 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 buying an additional 85 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 735 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 16,822 shares in the company, valued at $2,694,379.74. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.40% of the stock is owned by corporate insiders.

Penske Automotive Group Trading Down 0.1%

PAG opened at $166.47 on Tuesday. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $189.51. The company has a market cap of $10.96 billion, a P/E ratio of 11.71, a PEG ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.21 and a current ratio of 0.97. The business’s 50-day simple moving average is $163.58 and its 200-day simple moving average is $168.90.

Analysts Set New Price Targets

PAG has been the subject of several research reports. Bank of America initiated coverage on shares of Penske Automotive Group in a research note on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Barclays cut their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.71.

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.