BIT Capital GmbH Acquires New Stake in Penske Automotive Group, Inc. (NYSE:PAG)

BIT Capital GmbH bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,412 shares of the company’s stock, valued at approximately $825,000.

A number of other large investors have also modified their holdings of PAG. Janus Henderson Group PLC lifted its stake in shares of Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after buying an additional 10,663 shares in the last quarter. Highland Capital Management LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $240,000. Cerity Partners LLC lifted its stake in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after purchasing an additional 8,504 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after purchasing an additional 269 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at approximately $287,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $150.06 on Thursday. The firm has a market cap of $10.02 billion, a PE ratio of 10.91 and a beta of 1.24. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12. The business’s fifty day simple moving average is $163.03 and its 200-day simple moving average is $159.62.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.25%. The ex-dividend date was Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Insider Activity at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PAG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Stephens reiterated an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. Benchmark started coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. Finally, StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.50.

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.