AXQ Capital LP Buys Shares of 1,745 Penske Automotive Group, Inc. (NYSE:PAG)

AXQ Capital LP bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,745 shares of the company's stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Penske Automotive Group by 20.3% in the fourth quarter. Sei Investments Co. now owns 47,267 shares of the company's stock worth $7,205,000 after acquiring an additional 7,978 shares during the last quarter. American Century Companies Inc. grew its position in Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock worth $39,560,000 after purchasing an additional 38,388 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Penske Automotive Group by 49.7% during the 4th quarter. Virtu Financial LLC now owns 2,620 shares of the company's stock worth $399,000 after purchasing an additional 870 shares during the period. Quantbot Technologies LP acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at about $1,533,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Stephens reaffirmed an "equal weight" rating and issued a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark began coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Penske Automotive Group currently has an average rating of "Moderate Buy" and a consensus target price of $166.25.

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Penske Automotive Group Price Performance

Penske Automotive Group stock traded down $5.48 during mid-day trading on Thursday, hitting $144.52. 372,592 shares of the company were exchanged, compared to its average volume of 179,720. The company has a market capitalization of $9.65 billion, a PE ratio of 10.51 and a beta of 1.24. The business has a fifty day moving average of $162.53 and a 200 day moving average of $159.45. Penske Automotive Group, Inc. has a 1-year low of $139.68 and a 1-year high of $180.12. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a $1.22 dividend. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's payout ratio is presently 35.49%.

Insider Buying and Selling

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by corporate insiders.

Penske Automotive Group 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.