PEAK6 Investments L.P. Increases Position in Penske Automotive Group, Inc. (PAG)

PEAK6 Investments L.P. increased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5,767.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Meadow Creek Investment Management LLC bought a new position in shares of Penske Automotive Group during the first quarter valued at approximately $113,000. Bank of Montreal Can increased its position 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 buying an additional 275 shares during the last quarter. Glen Harbor Capital Management LLC bought a new position in shares of Penske Automotive Group during the first quarter valued at approximately $137,000. Capstone Investment Advisors LLC bought a new position in shares of Penske Automotive Group during the fourth quarter valued at approximately $202,000. Finally, Trexquant Investment LP bought a new position in shares of Penske Automotive Group during the fourth quarter valued at approximately $233,000. 38.97% of the stock is owned by institutional investors and hedge funds.

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

Penske Automotive Group, Inc. (PAG) traded up 2.71% during trading on Monday, hitting $42.46. 457,932 shares of the stock traded hands. The stock has a market cap of $3.66 billion, a PE ratio of 10.47 and a beta of 1.37. The company has a 50-day moving average price of $43.50 and a 200-day moving average price of $48.83. Penske Automotive Group, Inc. has a 12 month low of $29.29 and a 12 month high of $56.05.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 22nd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.92%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, May 18th. Penske Automotive Group’s dividend payout ratio is 30.54%.

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Several brokerages recently commented on PAG. Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, April 11th. BidaskClub raised shares of Penske Automotive Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. ValuEngine downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Gabelli raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Thursday, April 27th. Finally, Morgan Stanley dropped their price target 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Penske Automotive Group currently has an average 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 stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $42.48, for a total transaction of $474,586.56. Following the sale, the president now directly owns 89,405 shares of the company’s stock, valued at approximately $3,797,924.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shane M. Spradlin sold 1,900 shares of the stock in a transaction dated 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. Corporate insiders own 40.70% of the company’s stock.

Penske Automotive Group Company 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.

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