Penske Automotive Group, Inc. (PAG) Shares Sold by Balyasny Asset Management LLC

Balyasny Asset Management LLC lowered its position in Penske Automotive Group, Inc. (NYSE:PAG) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,199 shares of the company’s stock after selling 12,702 shares during the period. Balyasny Asset Management LLC owned 0.20% of Penske Automotive Group worth $7,430,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new position in shares of Penske Automotive Group in the first quarter valued at approximately $100,000. Bank of Montreal Can raised its stake in shares of Penske Automotive Group by 10.9% in the first quarter. Bank of Montreal Can now owns 2,787 shares of the company’s stock valued at $131,000 after acquiring an additional 275 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Penske Automotive Group in the second quarter valued at approximately $206,000. Paragon Capital Management Ltd bought a new position in shares of Penske Automotive Group in the second quarter valued at approximately $233,000. Finally, PEAK6 Investments L.P. raised its stake in shares of Penske Automotive Group by 5,767.4% in the first quarter. PEAK6 Investments L.P. now owns 5,046 shares of the company’s stock valued at $236,000 after acquiring an additional 4,960 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PAG has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Northcoast Research started coverage on shares of Penske Automotive Group in a research report on Thursday, September 28th. They issued a “buy” rating and a $56.00 price objective for the company. BidaskClub upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, KeyCorp restated a “hold” rating on shares of Penske Automotive Group in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.43.

In other Penske Automotive Group news, EVP Claude H. Denker III sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total value of $206,350.00. Following the sale, the executive vice president now owns 22,243 shares in the company, valued at $917,968.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 40.70% of the company’s stock.

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Penske Automotive Group, Inc. (PAG) opened at 46.32 on Friday. Penske Automotive Group, Inc. has a 52-week low of $38.33 and a 52-week high of $56.05. The company has a 50-day moving average of $43.83 and a 200 day moving average of $43.95. The company has a market cap of $3.96 billion, a PE ratio of 11.62 and a beta of 1.45.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the business posted $1.11 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Penske Automotive Group, Inc. will post $4.30 EPS for the current year.

Penske Automotive Group Profile

Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.

Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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