Dark Forest Capital Management LP Buys 3,011 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Dark Forest Capital Management LP increased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 164.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,837 shares of the company's stock after acquiring an additional 3,011 shares during the period. Dark Forest Capital Management LP's holdings in Penske Automotive Group were worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PAG. GAMMA Investing LLC raised its holdings 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 acquiring an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Penske Automotive Group in the 4th quarter worth $40,000. Headlands Technologies LLC bought a new stake in shares of Penske Automotive Group during the 4th quarter worth $76,000. TD Waterhouse Canada Inc. increased its stake in Penske Automotive Group by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company's stock valued at $81,000 after acquiring an additional 158 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Penske Automotive Group during the third quarter worth about $94,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup assumed coverage on Penske Automotive Group in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $185.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Stephens restated an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $170.00.

Penske Automotive Group Stock Up 0.4 %

NYSE PAG traded up $0.61 during trading hours on Monday, reaching $157.91. 226,733 shares of the company's stock traded hands, compared to its average volume of 195,502. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $180.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The firm has a 50-day simple moving average of $154.21 and a 200 day simple moving average of $158.16. The firm has a market cap of $10.54 billion, a PE ratio of 11.48 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share 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 company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $1.22 dividend. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.09%. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.

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.