Duality Advisers LP Takes Position in Penske Automotive Group, Inc. (NYSE:PAG)

Duality Advisers LP acquired a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,195 shares of the company’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also modified their holdings of PAG. Invesco Ltd. lifted its holdings in shares of Penske Automotive Group by 164.3% in the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after buying an additional 181,995 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Penske Automotive Group by 43.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock valued at $48,423,000 after purchasing an additional 87,590 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Penske Automotive Group by 4,712.6% in the 3rd quarter. Principal Financial Group Inc. now owns 72,044 shares of the company’s stock valued at $12,036,000 after purchasing an additional 70,547 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Penske Automotive Group by 15,960.7% in the 4th quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after purchasing an additional 66,556 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of Penske Automotive Group by 206.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 73,531 shares of the company’s stock valued at $12,284,000 after purchasing an additional 49,544 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insiders Place Their Bets

In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the director now 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 owned by company insiders.

Analyst Upgrades and Downgrades

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

Penske Automotive Group Price Performance

NYSE: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 stock has a 50 day moving average of $153.12 and a two-hundred day moving average of $152.80. The company has a current ratio of 1.00, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30. The firm has a market cap of $10.43 billion, a P/E ratio of 10.05 and a beta of 1.19.

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

Penske Automotive Group Company 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.