International Assets Investment Management LLC Raises Position in Penske Automotive Group, Inc. (NYSE:PAG)

International Assets Investment Management LLC grew its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 15,960.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,973 shares of the company’s stock after purchasing an additional 66,556 shares during the period. International Assets Investment Management LLC owned approximately 0.10% of Penske Automotive Group worth $10,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAG. Vanguard Personalized Indexing Management LLC lifted its position in Penske Automotive Group by 3.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock worth $370,000 after buying an additional 70 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Penske Automotive Group by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 5,893 shares of the company’s stock worth $984,000 after acquiring an additional 73 shares during the last quarter. SkyOak Wealth LLC boosted its stake in shares of Penske Automotive Group by 3.2% during the 4th quarter. SkyOak Wealth LLC now owns 2,550 shares of the company’s stock worth $409,000 after purchasing an additional 80 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Penske Automotive Group by 113.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. Finally, Quent Capital LLC grew its holdings in Penske Automotive Group by 5.5% during the 4th quarter. Quent Capital LLC now owns 1,830 shares of the company’s stock valued at $294,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of PAG stock opened at $153.44 on Monday. The company has a market capitalization of $10.26 billion, a P/E ratio of 10.67 and a beta of 1.21. The company’s 50-day simple moving average is $153.72 and its two-hundred day simple moving average is $152.83. Penske Automotive Group, Inc. has a one year low of $133.72 and a one year high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.52 billion. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.31 EPS. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PAG. Morgan Stanley raised their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. Bank of America raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.20.

Insiders Place Their Bets

In other news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction 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 transaction, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John Barr sold 1,600 shares of the business’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 transaction, the director now owns 716 shares of the company’s stock, valued at $110,299.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Smith sold 1,604 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

About Penske Automotive Group

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.