Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Paragon Capital Management Ltd

Paragon Capital Management Ltd reduced its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 19.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665 shares of the company’s stock after selling 392 shares during the period. Paragon Capital Management Ltd’s holdings in Penske Automotive Group were worth $278,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC acquired a new stake in Penske Automotive Group in the first quarter valued at approximately $32,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Penske Automotive Group in the 1st quarter valued at $36,000. Quantbot Technologies LP acquired a new stake in shares of Penske Automotive Group in the 2nd quarter valued at $55,000. MetLife Investment Management LLC acquired a new stake in shares of Penske Automotive Group in the 1st quarter valued at $58,000. Finally, Ancora Advisors LLC acquired a new stake in Penske Automotive Group in the first quarter valued at $71,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock traded down $4.07 during trading on Friday, reaching $163.87. The company’s stock had a trading volume of 1,388,385 shares, compared to its average volume of 228,725. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.37. The firm has a market cap of $11.03 billion, a PE ratio of 9.34 and a beta of 1.23. Penske Automotive Group, Inc. has a fifty-two week low of $94.49 and a fifty-two week high of $180.84. The company has a 50-day moving average price of $167.84 and a two-hundred day moving average price of $152.69.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.43. The company had revenue of $7.47 billion for the quarter, compared to analyst estimates of $7.20 billion. Penske Automotive Group had a net margin of 4.30% and a return on equity of 29.07%. Penske Automotive Group’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.93 earnings per share. On average, analysts forecast that Penske Automotive Group, Inc. will post 16.57 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 10th were paid a $0.72 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.66. This represents a $2.88 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, August 9th. Penske Automotive Group’s payout ratio is currently 16.42%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stephens cut Penske Automotive Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $156.00 to $185.00 in a research note on Wednesday, July 19th. StockNews.com cut shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered shares of Penske Automotive Group from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $150.00 to $140.00 in a research note on Monday, July 31st. Morgan Stanley lifted their price target on shares of Penske Automotive Group from $88.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. Finally, Benchmark lifted their target price on Penske Automotive Group from $175.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $166.60.

Insider Buying and Selling at Penske Automotive Group

In other news, Director John Barr sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $163.49, for a total transaction of $490,470.00. Following the transaction, the director now directly owns 712 shares in the company, valued at $116,404.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Robert H. Kurnick, Jr. sold 10,997 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $166.12, for a total transaction of $1,826,821.64. Following the transaction, the president now directly owns 36,181 shares of the company’s stock, valued at approximately $6,010,387.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Barr sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $163.49, for a total value of $490,470.00. Following the completion of the sale, the director now directly owns 712 shares in the company, valued at approximately $116,404.88. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships in the United States and internationally. 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.