MQS Management LLC Invests $748,000 in Penske Automotive Group, Inc. (NYSE:PAG)

MQS Management LLC bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,606 shares of the company's stock, valued at approximately $748,000.

Several other large investors also recently made changes to their positions in the business. Applied Capital LLC FL grew its holdings in shares of Penske Automotive Group by 0.4% during the third quarter. Applied Capital LLC FL now owns 21,176 shares of the company's stock worth $3,439,000 after purchasing an additional 77 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Penske Automotive Group by 1.5% during the second quarter. Arizona State Retirement System now owns 5,626 shares of the company's stock worth $838,000 after purchasing an additional 84 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Penske Automotive Group by 5.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,708 shares of the company's stock worth $277,000 after purchasing an additional 84 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company's stock valued at $56,000 after acquiring an additional 91 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in Penske Automotive Group by 1.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company's stock valued at $1,041,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Stock Up 0.1 %

Penske Automotive Group stock traded up $0.09 during midday trading on Wednesday, reaching $161.17. The stock had a trading volume of 132,468 shares, compared to its average volume of 185,145. The firm's fifty day simple moving average is $156.38 and its 200-day simple moving average is $156.18. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $179.72. The stock has a market capitalization of $10.76 billion, a P/E ratio of 12.42 and a beta of 1.17. 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 (NYSE:PAG - Get Free Report) last posted its quarterly 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). The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.90 earnings per share. As a group, analysts expect that Penske Automotive Group, Inc. will post 13.71 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.95%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. Penske Automotive Group's dividend payout ratio (DPR) is currently 32.80%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PAG. Stephens began coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 price target on the stock. Bank of America raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley raised Penske Automotive Group from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th.

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.