EntryPoint Capital LLC Has $570,000 Stock Holdings in Penske Automotive Group, Inc. $PAG

EntryPoint Capital LLC boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 35.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,957 shares of the company’s stock after purchasing an additional 1,026 shares during the quarter. EntryPoint Capital LLC’s holdings in Penske Automotive Group were worth $570,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PAG. UMB Bank n.a. increased its position in shares of Penske Automotive Group by 421.5% in the 1st quarter. UMB Bank n.a. now owns 339 shares of the company’s stock valued at $49,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Penske Automotive Group by 51.9% in the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock valued at $57,000 after acquiring an additional 136 shares in the last quarter. Brooklyn Investment Group boosted its position in Penske Automotive Group by 353.0% during the first quarter. Brooklyn Investment Group now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 353 shares during the last quarter. Fifth Third Bancorp boosted its position in Penske Automotive Group by 31.0% during the first quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $76,000 after purchasing an additional 125 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Penske Automotive Group by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company’s stock valued at $81,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Shane M. Spradlin sold 3,158 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $167.10, for a total value of $527,701.80. Following the sale, the executive vice president owned 36,152 shares of the company’s stock, valued at $6,040,999.20. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Roger S. Penske sold 77,357 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $161.37, for a total transaction of $12,483,099.09. Following the completion of the sale, the chief executive officer directly owned 140,042 shares in the company, valued at approximately $22,598,577.54. This represents a 35.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,044 shares of company stock valued at $13,257,948. 52.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAG. Stephens reiterated an “equal weight” rating and issued a $140.00 target price on shares of Penske Automotive Group in a research note on Wednesday, June 11th. JPMorgan Chase & Co. upgraded shares of Penske Automotive Group from an “underweight” rating to a “neutral” rating and raised their target price for the company from $155.00 to $175.00 in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. Citigroup raised their target price on shares of Penske Automotive Group from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Finally, Bank of America raised their price objective on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.00.

Penske Automotive Group Trading Up 1.7%

Shares of PAG stock opened at $183.6750 on Wednesday. The firm has a 50 day moving average price of $174.91 and a two-hundred day moving average price of $164.45. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $12.13 billion, a PE ratio of 12.78 and a beta of 0.87. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $186.55.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.56 by $0.22. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.98 billion. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 earnings per share. As a group, analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.9%. Penske Automotive Group’s payout ratio is presently 36.74%.

Penske Automotive Group Profile

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.