Duality Advisers LP Takes Position in Penske Automotive Group, Inc. (NYSE:PAG)

Duality Advisers LP purchased a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,195 shares of the company’s stock, valued at approximately $352,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAG. Invesco Ltd. lifted its holdings in shares of Penske Automotive Group by 164.3% during the third quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after purchasing an additional 181,995 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Penske Automotive Group by 43.3% in the third quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock valued at $48,423,000 after acquiring an additional 87,590 shares during the period. Principal Financial Group Inc. lifted its holdings in Penske Automotive Group by 4,712.6% in the third quarter. Principal Financial Group Inc. now owns 72,044 shares of the company’s stock valued at $12,036,000 after acquiring an additional 70,547 shares during the period. International Assets Investment Management LLC lifted its holdings in Penske Automotive Group by 15,960.7% in the fourth quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after acquiring an additional 66,556 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Penske Automotive Group by 206.5% in the third quarter. Qube Research & Technologies Ltd now owns 73,531 shares of the company’s stock valued at $12,284,000 after acquiring an additional 49,544 shares during the period. 77.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John Barr sold 1,600 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the sale, the director now owns 716 shares in the company, valued at $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PAG shares. Bank of America increased their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley increased their target price on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $163.20.

Penske Automotive Group Stock Performance

Shares of PAG opened at $155.60 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $153.12 and a two-hundred day simple moving average of $152.80. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 10.05 and a beta of 1.19. Penske Automotive Group, Inc. has a 52 week low of $133.72 and a 52 week high of $180.84.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $7.18 billion. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.21 EPS. On average, analysts expect that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

Penske Automotive Group Company Profile

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.