5,000 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, Holdings Channel.com reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $802,000.

Several other institutional investors have also added to or reduced their stakes in PAG. AE Wealth Management LLC increased its stake in shares of Penske Automotive Group by 6.0% during the third quarter. AE Wealth Management LLC now owns 2,475 shares of the company’s stock valued at $413,000 after purchasing an additional 139 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Penske Automotive Group during the third quarter valued at approximately $226,000. State of Alaska Department of Revenue purchased a new stake in shares of Penske Automotive Group during the third quarter valued at approximately $390,000. Exchange Traded Concepts LLC grew its holdings in shares of Penske Automotive Group by 155.3% during the third quarter. Exchange Traded Concepts LLC now owns 457 shares of the company’s stock valued at $76,000 after buying an additional 278 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Penske Automotive Group during the third quarter valued at approximately $280,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now directly owns 716 shares of the company’s stock, valued at approximately $110,299.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group 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 transaction, the director now directly owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The disclosure for this sale can be found here. 52.20% of the stock is currently owned by insiders.

Penske Automotive Group Price Performance

Shares of PAG stock traded up $0.22 on Monday, hitting $155.85. 80,393 shares of the stock traded hands, compared to its average volume of 196,682. The firm has a market cap of $10.45 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. The firm has a 50 day simple moving average of $153.25 and a two-hundred day simple moving average of $152.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.21). The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.18 billion. Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.21 earnings per share. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on PAG. Bank of America increased their price target on shares of 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 price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Penske Automotive Group has a consensus rating of “Hold” and a consensus price target of $163.20.

About Penske Automotive Group

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.