Penske Automotive Group, Inc. (PAG) Position Maintained by Logan Capital Management Inc.
Logan Capital Management Inc. continued to hold its stake in Penske Automotive Group, Inc. (NYSE:PAG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,336 shares of the company’s stock at the end of the 2nd quarter. Logan Capital Management Inc.’s holdings in Penske Automotive Group were worth $717,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC purchased a new position in Penske Automotive Group during the 2nd quarter worth approximately $14,689,000. Canada Pension Plan Investment Board increased its position in Penske Automotive Group by 100.0% during the second quarter. Canada Pension Plan Investment Board now owns 23,800 shares of the company’s stock worth $1,045,000 after buying an additional 11,900 shares during the period. LSV Asset Management increased its position in Penske Automotive Group by 4.2% during the second quarter. LSV Asset Management now owns 2,516,387 shares of the company’s stock worth $110,494,000 after buying an additional 100,380 shares during the period. Fiduciary Management Inc. WI increased its position in Penske Automotive Group by 1.0% during the second quarter. Fiduciary Management Inc. WI now owns 1,457,745 shares of the company’s stock worth $64,010,000 after buying an additional 15,090 shares during the period. Finally, Freestone Capital Holdings LLC acquired a new position in Penske Automotive Group during the second quarter worth approximately $524,000. 39.83% of the stock is owned by hedge funds and other institutional investors.
In other Penske Automotive Group news, EVP Claude H. Denker III sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $41.27, for a total value of $206,350.00. Following the sale, the executive vice president now directly owns 22,243 shares in the company, valued at $917,968.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 40.70% of the stock is owned by company insiders.
PAG has been the subject of a number of research reports. Berenberg Bank started coverage on Penske Automotive Group in a research note on Wednesday. They issued a “hold” rating and a $52.00 price objective for the company. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday. Northcoast Research initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 28th. They set a “buy” rating and a $56.00 target price on the stock. BidaskClub cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $53.00.
Penske Automotive Group, Inc. (NYSE:PAG) traded down 0.0211% during mid-day trading on Wednesday, reaching $47.9199. The company’s stock had a trading volume of 61,496 shares. The stock’s 50-day moving average is $43.26 and its 200-day moving average is $43.92. The firm has a market capitalization of $4.12 billion, a PE ratio of 11.4231 and a beta of 1.45. Penske Automotive Group, Inc. has a 12 month low of $38.33 and a 12 month high of $56.05.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.07. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.44 billion. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, equities analysts anticipate that Penske Automotive Group, Inc. will post $4.31 EPS for the current year.
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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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