Alps Advisors Inc. Takes $5.59 Million Position in Penske Automotive Group, Inc. $PAG

Alps Advisors Inc. purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,112 shares of the company’s stock, valued at approximately $5,585,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAG. California State Teachers Retirement System raised its holdings in shares of Penske Automotive Group by 0.4% during the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after acquiring an additional 65 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Penske Automotive Group by 11.0% during the third quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock worth $116,000 after purchasing an additional 67 shares in the last quarter. Truist Financial Corp raised its stake in Penske Automotive Group by 2.8% in the 3rd quarter. Truist Financial Corp now owns 2,576 shares of the company’s stock valued at $448,000 after purchasing an additional 70 shares during the last quarter. Inscription Capital LLC raised its stake in Penske Automotive Group by 5.0% in the 3rd quarter. Inscription Capital LLC now owns 1,721 shares of the company’s stock valued at $299,000 after purchasing an additional 82 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Penske Automotive Group by 12.1% in the 2nd quarter. Blue Trust Inc. now owns 785 shares of the company’s stock valued at $135,000 after purchasing an additional 85 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Price Performance

PAG stock opened at $166.47 on Tuesday. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $189.51. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. The business has a fifty day moving average of $163.58 and a two-hundred day moving average of $168.90.

Insider Activity

In other news, CFO Michelle Hulgrave sold 2,100 shares of the company’s 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 approximately $2,694,379.74. This represents a 11.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 52.40% of the company’s stock.

Analysts Set New Price Targets

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