Penske Automotive Group, Inc. (NYSE:PAG) Position Increased by PEAK6 Investments L.P.

PEAK6 Investments L.P. raised its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 5,767.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,046 shares of the company’s stock after buying an additional 4,960 shares during the period. PEAK6 Investments L.P.’s holdings in Penske Automotive Group were worth $236,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PAG. Oppenheimer Asset Management Inc. purchased a new stake in shares of Penske Automotive Group during the first quarter worth approximately $333,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Penske Automotive Group by 11.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 281,365 shares of the company’s stock worth $13,171,000 after buying an additional 28,170 shares during the period. Amalgamated Bank boosted its position in Penske Automotive Group by 3.4% in the first quarter. Amalgamated Bank now owns 5,518 shares of the company’s stock worth $258,000 after buying an additional 180 shares during the period. Morgan Stanley boosted its position in Penske Automotive Group by 6.2% in the first quarter. Morgan Stanley now owns 450,757 shares of the company’s stock worth $21,099,000 after buying an additional 26,282 shares during the period. Finally, UBS Group AG boosted its position in Penske Automotive Group by 2.9% in the first quarter. UBS Group AG now owns 37,352 shares of the company’s stock worth $1,749,000 after buying an additional 1,055 shares during the period. 38.97% of the stock is currently owned by institutional investors.

Penske Automotive Group, Inc. (NYSE PAG) traded up 1.87% on Friday, reaching $44.13. 293,578 shares of the company traded hands. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 10.88 and a beta of 1.49. Penske Automotive Group, Inc. has a 1-year low of $29.29 and a 1-year high of $56.05. The stock’s 50-day moving average is $42.56 and its 200-day moving average is $48.12.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.01. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.85 billion. Penske Automotive Group had a net margin of 1.70% and a return on equity of 19.06%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Equities research analysts expect that Penske Automotive Group, Inc. will post $4.29 EPS for the current year.

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A number of research firms have recently issued reports on PAG. Gabelli raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Thursday, April 27th. Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, April 11th. ValuEngine lowered shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Penske Automotive Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Morgan Stanley decreased their price objective on shares of Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $54.00.

In related news, President Robert H. Kurnick, Jr. sold 11,172 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $42.48, for a total transaction of $474,586.56. Following the completion of the transaction, the president now owns 89,405 shares in the company, valued at $3,797,924.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Shane M. Spradlin sold 1,900 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $43.64, for a total transaction of $82,916.00. The disclosure for this sale can be found here. 40.70% of the stock is currently owned by corporate insiders.

About Penske Automotive Group

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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