GSA Capital Partners LLP grew its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 96.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,588 shares of the company’s stock after purchasing an additional 12,578 shares during the quarter. GSA Capital Partners LLP’s holdings in Penske Automotive Group were worth $1,199,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Koch Industries Inc. purchased a new position in shares of Penske Automotive Group during the first quarter worth about $480,000. LSV Asset Management grew its holdings in shares of Penske Automotive Group by 2.2% during the second quarter. LSV Asset Management now owns 2,698,729 shares of the company’s stock worth $126,435,000 after buying an additional 59,311 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Penske Automotive Group by 8.2% during the second quarter. Cooke & Bieler LP now owns 242,579 shares of the company’s stock worth $11,365,000 after buying an additional 18,372 shares during the last quarter. Fenimore Asset Management Inc. grew its holdings in shares of Penske Automotive Group by 12.9% during the second quarter. Fenimore Asset Management Inc. now owns 394,476 shares of the company’s stock worth $18,481,000 after buying an additional 45,117 shares during the last quarter. Finally, James Investment Research Inc. grew its holdings in shares of Penske Automotive Group by 15.4% during the second quarter. James Investment Research Inc. now owns 44,880 shares of the company’s stock worth $2,103,000 after buying an additional 5,980 shares during the last quarter. 43.38% of the stock is currently owned by institutional investors.
NYSE PAG opened at $52.58 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.22 and a current ratio of 1.01. Penske Automotive Group, Inc. has a 52-week low of $41.74 and a 52-week high of $54.83. The stock has a market cap of $4.47 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.45 and a beta of 1.47.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.14. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.82 billion. Penske Automotive Group had a return on equity of 17.68% and a net margin of 2.95%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.27 earnings per share. analysts predict that Penske Automotive Group, Inc. will post 5.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Friday, August 10th were given a $0.36 dividend. The ex-dividend date was Thursday, August 9th. This represents a $1.44 dividend on an annualized basis and a yield of 2.74%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.35. Penske Automotive Group’s dividend payout ratio (DPR) is presently 33.41%.
A number of research firms recently issued reports on PAG. Guggenheim set a $53.00 price target on Penske Automotive Group and gave the stock a “buy” rating in a report on Friday, July 13th. Zacks Investment Research raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Tuesday, June 19th. SunTrust Banks began coverage on Penske Automotive Group in a report on Friday, August 24th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Morgan Stanley raised their price target on Penske Automotive Group from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $59.13.
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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