Fenimore Asset Management Inc. boosted its stake in Penske Automotive Group Inc. (NYSE:PAG) by 41.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,450 shares of the company’s stock after buying an additional 65,175 shares during the period. Fenimore Asset Management Inc. owned approximately 0.26% of Penske Automotive Group worth $10,669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PAG. Riverhead Capital Management LLC purchased a new position in Penske Automotive Group during the first quarter valued at about $2,811,000. UBS Group AG raised its position in Penske Automotive Group by 29.9% in the first quarter. UBS Group AG now owns 79,719 shares of the company’s stock valued at $3,021,000 after buying an additional 18,331 shares during the last quarter. State Street Corp raised its position in Penske Automotive Group by 2.7% in the first quarter. State Street Corp now owns 692,013 shares of the company’s stock valued at $26,227,000 after buying an additional 18,121 shares during the last quarter. Donaldson Capital Management LLC raised its position in Penske Automotive Group by 34.5% in the first quarter. Donaldson Capital Management LLC now owns 406,957 shares of the company’s stock valued at $15,424,000 after buying an additional 104,452 shares during the last quarter. Finally, Zebra Capital Management LLC raised its position in Penske Automotive Group by 30.5% in the first quarter. Zebra Capital Management LLC now owns 25,515 shares of the company’s stock valued at $967,000 after buying an additional 5,958 shares during the last quarter. 40.52% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

Penske Automotive Group Inc. (NYSE:PAG) opened at 46.27 on Thursday. The stock has a market cap of $3.94 billion, a P/E ratio of 12.36 and a beta of 1.56. Penske Automotive Group Inc. has a 12-month low of $29.29 and a 12-month high of $51.52. The stock has a 50 day moving average price of $47.52 and a 200-day moving average price of $39.57.

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 the Zacks’ consensus estimate of $1.09 by $0.02. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.17 billion. Penske Automotive Group had a return on equity of 18.75% and a net margin of 1.65%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, equities analysts expect that Penske Automotive Group Inc. will post $3.89 earnings per share for the current year.

Several equities research analysts have weighed in on PAG shares. Zacks Investment Research downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Gabelli downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Stifel Nicolaus downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Seaport Global Securities started coverage on Penske Automotive Group in a report on Tuesday, August 9th. They set a “neutral” rating on the stock. Finally, Evercore ISI downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.00.

In related news, EVP Shane M. Spradlin sold 4,900 shares of Penske Automotive Group stock in a transaction on Monday, September 12th. The stock was sold at an average price of $48.31, for a total value of $236,719.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Corp Penske bought 327,602 shares of Penske Automotive Group stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average price of $48.07 per share, for a total transaction of $15,747,828.14. The disclosure for this purchase can be found here. 37.20% of the stock is owned by insiders.

About Penske Automotive Group

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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