Yorktown Management & Research Co Inc Makes New Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Yorktown Management & Research Co Inc bought a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,800 shares of the company’s stock, valued at approximately $795,000.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Penske Automotive Group by 90.5% in the 2nd quarter. Signaturefd LLC now owns 878 shares of the company’s stock worth $42,000 after buying an additional 417 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Penske Automotive Group in the 1st quarter worth approximately $125,000. Advisory Services Network LLC lifted its position in Penske Automotive Group by 8,888.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,775 shares of the company’s stock worth $179,000 after buying an additional 3,733 shares in the last quarter. Martingale Asset Management L P purchased a new stake in Penske Automotive Group in the 1st quarter worth approximately $314,000. Finally, Oppenheimer & Co. Inc. lifted its position in Penske Automotive Group by 45.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,483 shares of the company’s stock worth $334,000 after buying an additional 2,325 shares in the last quarter. Institutional investors own 44.47% of the company’s stock.

In related news, EVP Shane M. Spradlin sold 2,656 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.05, for a total value of $116,996.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Robert H. Kurnick, Jr. sold 8,579 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.05, for a total transaction of $395,062.95. Following the completion of the transaction, the president now owns 98,509 shares in the company, valued at $4,536,339.45. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.

Shares of PAG traded up $1.12 during mid-day trading on Friday, hitting $42.87. 264,600 shares of the company’s stock were exchanged, compared to its average volume of 406,209. The firm has a fifty day moving average of $45.72 and a two-hundred day moving average of $44.96. Penske Automotive Group, Inc. has a twelve month low of $38.49 and a twelve month high of $53.84. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.42 and a beta of 1.32. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.80.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.17). Penske Automotive Group had a return on equity of 16.56% and a net margin of 2.00%. The business had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the company earned $1.58 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts predict that Penske Automotive Group, Inc. will post 5.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.40 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 3.73%. Penske Automotive Group’s dividend payout ratio is 29.96%.

A number of research firms have issued reports on PAG. Morgan Stanley increased their target price on shares of Penske Automotive Group from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. ValuEngine lowered shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Zacks Investment Research upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research note on Tuesday, May 28th. Finally, Northcoast Research restated a “buy” rating on shares of Penske Automotive Group in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.17.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It 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 primarily in Australia and New Zealand.

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

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