Advantage Alpha Capital Partners LP Purchases Shares of 6,375 Penske Automotive Group, Inc. (NYSE:PAG)

Advantage Alpha Capital Partners LP purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,375 shares of the company's stock, valued at approximately $1,035,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Burgundy Asset Management Ltd. increased its holdings in shares of Penske Automotive Group by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company's stock worth $115,874,000 after buying an additional 13,968 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Penske Automotive Group by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 417,932 shares of the company's stock valued at $62,280,000 after purchasing an additional 99,164 shares during the period. Millennium Management LLC boosted its position in shares of Penske Automotive Group by 9.1% during the 2nd quarter. Millennium Management LLC now owns 126,278 shares of the company's stock valued at $18,818,000 after purchasing an additional 10,522 shares in the last quarter. Citigroup Inc. increased its stake in shares of Penske Automotive Group by 4.1% in the 3rd quarter. Citigroup Inc. now owns 63,548 shares of the company's stock valued at $10,321,000 after acquiring an additional 2,475 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Penske Automotive Group by 12,674.5% during the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company's stock worth $9,606,000 after acquiring an additional 58,683 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley upgraded Penske Automotive Group from an "underweight" rating to an "overweight" rating and increased their price target for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a report on Tuesday, September 10th. Finally, Stephens assumed coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price target for the company.

Penske Automotive Group Stock Down 1.7 %

Shares of NYSE:PAG traded down $2.90 during mid-day trading on Tuesday, hitting $167.48. 208,070 shares of the company traded hands, compared to its average volume of 184,733. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The stock has a market cap of $11.18 billion, a P/E ratio of 13.06 and a beta of 1.17. The stock has a 50-day moving average price of $157.63 and a two-hundred day moving average price of $156.70. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business had revenue of $7.59 billion for the quarter, compared to analysts' expectations of $7.67 billion. During the same period in the previous year, the business posted $3.90 earnings per share. The business's revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.53 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, November 15th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's dividend payout ratio is currently 36.48%.

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.