Manning & Napier Advisors LLC Cuts Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Manning & Napier Advisors LLC trimmed its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 35.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,026 shares of the company's stock after selling 6,065 shares during the period. Manning & Napier Advisors LLC's holdings in Penske Automotive Group were worth $1,681,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the period. True Wealth Design LLC raised its holdings 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 purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its position in Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock valued at $74,000 after buying an additional 453 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group during the 3rd quarter valued at $94,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Penske Automotive Group in the 3rd quarter worth about $112,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $170.25.

Penske Automotive Group Trading Down 1.0 %

NYSE PAG traded down $1.73 during trading on Monday, hitting $163.90. The stock had a trading volume of 132,304 shares, compared to its average volume of 161,398. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $179.72. The stock has a 50 day simple moving average of $160.11 and a 200 day simple moving average of $159.73. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 12.56 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 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.