Federated Investors Inc. PA cut its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,835 shares of the company’s stock after selling 1,079 shares during the period. Federated Investors Inc. PA’s holdings in Penske Automotive Group were worth $458,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. boosted its position in shares of Penske Automotive Group by 6.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,821,149 shares of the company’s stock valued at $146,248,000 after buying an additional 161,197 shares during the last quarter. Prudential PLC boosted its position in Penske Automotive Group by 20.2% in the fourth quarter. Prudential PLC now owns 380,900 shares of the company’s stock worth $19,746,000 after buying an additional 63,900 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new position in Penske Automotive Group during the fourth quarter worth approximately $270,000. Russell Investments Group Ltd. bought a new stake in shares of Penske Automotive Group during the fourth quarter valued at about $3,270,000. Finally, Jane Street Group LLC bought a new stake in shares of Penske Automotive Group during the third quarter valued at about $712,000. 42.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Penske Automotive Group, Inc. (NYSE:PAG) traded down 0.85% during trading on Friday, hitting $47.96. 444,584 shares of the stock traded hands. The company has a 50 day moving average price of $47.11 and a 200 day moving average price of $49.49. Penske Automotive Group, Inc. has a 12 month low of $29.29 and a 12 month high of $56.05. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 12.03 and a beta of 1.38.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.04. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $5.01 billion. Penske Automotive Group had a net margin of 1.70% and a return on equity of 19.31%. Penske Automotive Group’s revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.81 EPS. Analysts anticipate that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current fiscal year.
Several research analysts have commented on PAG shares. Gabelli downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 8th. Susquehanna Bancshares Inc began coverage on shares of Penske Automotive Group in a research report on Wednesday, February 1st. They set a “positive” rating and a $63.00 price objective for the company. Finally, Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.67.
About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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