BIT Capital GmbH Acquires Shares of 5,412 Penske Automotive Group, Inc. (NYSE:PAG)

BIT Capital GmbH bought a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,412 shares of the company's stock, valued at approximately $825,000.

Several other hedge funds also recently bought and sold shares of PAG. GAMMA Investing LLC grew its stake in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company's stock valued at $40,000 after buying an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Penske Automotive Group in the fourth quarter valued at approximately $40,000. True Wealth Design LLC grew its position in Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company's stock worth $73,000 after acquiring an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock worth $74,000 after purchasing an additional 453 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group during the 3rd quarter valued at $94,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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Penske Automotive Group Stock Performance

Shares of NYSE:PAG traded down $3.47 during midday trading on Friday, hitting $140.99. The company's stock had a trading volume of 434,591 shares, compared to its average volume of 186,698. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The stock's 50 day simple moving average is $162.15 and its 200 day simple moving average is $159.34. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 10.25 and a beta of 1.24. Penske Automotive Group, Inc. has a fifty-two week low of $139.56 and a fifty-two week high of $180.12.

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

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a dividend of $1.22 per share. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group's dividend payout ratio is presently 35.49%.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was 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 owns 28,917 shares of the company's stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Barr sold 1,529 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Insiders own 51.70% of the company's stock.

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.