Merit Financial Group LLC Makes New $287,000 Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Merit Financial Group LLC acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,885 shares of the company's stock, valued at approximately $287,000.

A number of other hedge funds have also bought and sold shares of PAG. GAMMA Investing LLC boosted its holdings in shares of Penske Automotive Group by 44.8% in the fourth 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 boosted its stake in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company's stock worth $73,000 after purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. grew its holdings in Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock valued at $74,000 after buying an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group during the third quarter valued at about $94,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $112,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Penske Automotive Group Price Performance

Shares of NYSE:PAG traded down $1.28 on Friday, hitting $161.07. The company's stock had a trading volume of 119,334 shares, compared to its average volume of 132,767. The company has a market capitalization of $10.75 billion, a PE ratio of 12.34 and a beta of 1.20. 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 company has a 50-day simple moving average of $159.57 and a 200 day simple moving average of $159.43. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share 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 company had revenue of $7.59 billion during the quarter, compared to analysts' expectations of $7.67 billion. During the same period in the prior year, the business earned $3.90 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.53 EPS for the current fiscal year.

About Penske Automotive Group

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.