Xponance Inc. Grows Position in Penske Automotive Group, Inc. (NYSE:PAG)

Xponance Inc. boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,022 shares of the company’s stock after buying an additional 234 shares during the period. Xponance Inc.’s holdings in Penske Automotive Group were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAG. Invesco Ltd. boosted its holdings in shares of Penske Automotive Group by 164.3% in the third quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after acquiring an additional 181,995 shares in the last quarter. Bank of New York Mellon Corp increased its position in Penske Automotive Group by 43.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock worth $48,423,000 after purchasing an additional 87,590 shares during the period. Northern Trust Corp raised its stake in shares of Penske Automotive Group by 47.4% during the 3rd quarter. Northern Trust Corp now owns 136,995 shares of the company’s stock worth $22,886,000 after buying an additional 44,044 shares in the last quarter. UBS Group AG lifted its holdings in shares of Penske Automotive Group by 127.5% in the 3rd quarter. UBS Group AG now owns 84,740 shares of the company’s stock valued at $14,157,000 after buying an additional 47,488 shares during the period. Finally, Barclays PLC boosted its stake in shares of Penske Automotive Group by 106.2% in the third quarter. Barclays PLC now owns 84,554 shares of the company’s stock valued at $14,126,000 after buying an additional 43,550 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 1.4 %

PAG opened at $155.60 on Friday. Penske Automotive Group, Inc. has a 12 month low of $133.72 and a 12 month high of $180.84. The business has a 50-day moving average of $153.12 and a two-hundred day moving average of $152.80. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $7.18 billion. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.21 earnings per share. On average, research analysts expect that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current year.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now owns 716 shares in the company, valued at approximately $110,299.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the transaction, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Barr sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now directly owns 716 shares of the company’s stock, valued at $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PAG shares. Bank of America increased their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their price objective on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $163.20.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.