Trade Report: The Fenimore Asset Management Inc. Increases Stake in Penske Automotive Group Inc. (PAG)

The Fenimore Asset Management Inc. Increases Stake in Penske Automotive Group Inc. (PAG)

Fenimore Asset Management Inc. boosted its position in shares of Penske Automotive Group Inc. (NYSE:PAG) by 41.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 221,450 shares of the company’s stock after buying an additional 65,175 shares during the period. Fenimore Asset Management Inc.’s holdings in Penske Automotive Group were worth $10,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Penske Automotive Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,737,562 shares of the company’s stock worth $86,124,000 after buying an additional 9,121 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Penske Automotive Group by 12.1% in the second quarter. Burgundy Asset Management Ltd. now owns 2,588,167 shares of the company’s stock worth $81,424,000 after buying an additional 280,120 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Penske Automotive Group by 6.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,739,066 shares of the company’s stock worth $54,711,000 after buying an additional 100,268 shares during the last quarter. Sentry Investments Corp. boosted its position in shares of Penske Automotive Group by 4.9% in the second quarter. Sentry Investments Corp. now owns 1,318,661 shares of the company’s stock worth $41,485,000 after buying an additional 62,000 shares during the last quarter. Finally, Fiduciary Management Inc. WI purchased a new position in shares of Penske Automotive Group during the second quarter worth $31,193,000. Hedge funds and other institutional investors own 40.52% of the company’s stock.

Penske Automotive Group Inc. (NYSE:PAG) opened at 46.27 on Thursday. The firm has a market cap of $3.94 billion, a PE ratio of 12.36 and a beta of 1.56. The firm’s 50 day moving average price is $47.52 and its 200-day moving average price is $39.57. Penske Automotive Group Inc. has a 52 week low of $29.29 and a 52 week high of $51.52.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Penske Automotive Group had a return on equity of 18.75% and a net margin of 1.65%. The company earned $5.30 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that Penske Automotive Group Inc. will post $3.89 EPS for the current year.

PAG has been the topic of a number of research analyst reports. Evercore ISI cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus cut Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Zacks Investment Research cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Seaport Global Securities initiated coverage on Penske Automotive Group in a report on Tuesday, August 9th. They issued a “neutral” rating on the stock. Finally, Gabelli cut Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Penske Automotive Group presently has a consensus rating of “Hold” and an average target price of $48.00.

In other news, CEO Roger S. Penske bought 151,412 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were bought at an average cost of $39.85 per share, with a total value of $6,033,768.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Corp Penske bought 710,121 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average cost of $39.10 per share, for a total transaction of $27,765,731.10. The disclosure for this purchase can be found here. Company insiders own 37.20% of the company’s stock.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles, diesel engines, gas engines, power systems and related parts, and services in Australia and New Zealand.

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