Signaturefd LLC cut its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 33.3% during the third quarter, Holdings Channel reports. The fund owned 605 shares of the company’s stock after selling 302 shares during the quarter. Signaturefd LLC’s holdings in Penske Automotive Group were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in PAG. Venturi Wealth Management LLC boosted its stake in Penske Automotive Group by 113.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the period. FinTrust Capital Advisors LLC bought a new stake in Penske Automotive Group in the 3rd quarter valued at $35,000. Grove Bank & Trust boosted its stake in Penske Automotive Group by 100.0% in the 3rd quarter. Grove Bank & Trust now owns 250 shares of the company’s stock valued at $42,000 after purchasing an additional 125 shares during the period. Raleigh Capital Management Inc. boosted its stake in Penske Automotive Group by 24.2% in the 2nd quarter. Raleigh Capital Management Inc. now owns 313 shares of the company’s stock valued at $52,000 after purchasing an additional 61 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Penske Automotive Group in the 2nd quarter valued at $55,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Penske Automotive Group Stock Performance
NYSE:PAG opened at $148.44 on Thursday. The stock has a fifty day moving average price of $154.48 and a 200-day moving average price of $158.17. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 3.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 1.01. Penske Automotive Group, Inc. has a fifty-two week low of $125.07 and a fifty-two week high of $180.84.
Penske Automotive Group Increases Dividend
In other news, Director Sandra E. Pierce sold 8,750 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $151.62, for a total transaction of $1,326,675.00. Following the completion of the sale, the director now directly owns 20,500 shares in the company, valued at approximately $3,108,210. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 51.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on PAG. StockNews.com began coverage on Penske Automotive Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Benchmark restated a “buy” rating and issued a $196.00 price target on shares of Penske Automotive Group in a research note on Thursday, October 26th. Finally, JPMorgan Chase & Co. reduced their price target on Penske Automotive Group from $145.00 to $140.00 and set an “underweight” rating for the company in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $166.60.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships in the United States and internationally. 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.
- Five stocks we like better than Penske Automotive Group
- What is the FTSE 100 index?
- What is a bear market rally? Examples and how they work
- How to invest in marijuana stocks in 7 steps
- 7 best bear market ETFs to battle a decline
- How to Invest in Renewable Energy
- 10 best sugar stocks to buy now
Receive News & Ratings for Penske Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penske Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.