Highland Capital Management LLC bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,574 shares of the company's stock, valued at approximately $240,000.
Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Penske Automotive Group by 12,674.5% in the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company's stock valued at $9,606,000 after buying an additional 58,683 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Penske Automotive Group by 62.8% in the third quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company's stock valued at $4,743,000 after acquiring an additional 11,267 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Penske Automotive Group by 296.3% during the third quarter. Victory Capital Management Inc. now owns 14,913 shares of the company's stock valued at $2,422,000 after acquiring an additional 11,150 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Penske Automotive Group during the 3rd quarter worth about $1,805,000. Finally, Janus Henderson Group PLC raised its stake in Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company's stock valued at $6,426,000 after purchasing an additional 10,663 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.
Penske Automotive Group Stock Up 2.6 %
Shares of NYSE:PAG traded up $4.18 during mid-day trading on Tuesday, hitting $168.02. 100,621 shares of the company traded hands, compared to its average volume of 161,494. The firm's 50 day simple moving average is $159.98 and its 200 day simple moving average is $159.77. The firm has a market cap of $11.22 billion, a P/E ratio of 12.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72.
Wall Street Analyst Weigh In
Separately, Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $170.25.
View Our Latest Stock Analysis on PAG
Penske Automotive Group Company Profile
(
Free Report)
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.
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