Private Management Group Inc. Sells 18,370 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Private Management Group Inc. lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 217,369 shares of the company's stock after selling 18,370 shares during the period. Penske Automotive Group makes up 1.3% of Private Management Group Inc.'s portfolio, making the stock its 18th biggest position. Private Management Group Inc. owned approximately 0.32% of Penske Automotive Group worth $34,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC raised its position in shares of Penske Automotive Group by 5.5% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,813 shares of the company's stock worth $2,057,000 after purchasing an additional 668 shares during the period. Duality Advisers LP acquired a new stake in Penske Automotive Group in the 4th quarter valued at approximately $352,000. Xponance Inc. increased its position in shares of Penske Automotive Group by 8.4% during the 4th quarter. Xponance Inc. now owns 3,022 shares of the company's stock worth $485,000 after purchasing an additional 234 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Penske Automotive Group by 9.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,295 shares of the company's stock worth $689,000 after purchasing an additional 359 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its position in shares of Penske Automotive Group by 23.7% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,009 shares of the company's stock worth $322,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Insider Transactions at Penske Automotive Group

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

Penske Automotive Group Stock Performance

PAG traded up $3.15 during trading on Tuesday, hitting $152.17. The stock had a trading volume of 168,877 shares, compared to its average volume of 198,065. The company has a 50 day moving average price of $152.99 and a 200-day moving average price of $152.80. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 9.85 and a beta of 1.19. Penske Automotive Group, Inc. has a one year low of $133.72 and a one year high of $180.84. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.21). The firm had revenue of $7.27 billion during 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 business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.21 earnings per share. As a group, research analysts predict that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PAG. Bank of America boosted their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their target price on Penske Automotive Group from $107.00 to $115.00 and gave the stock an "underweight" rating in a research note 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 MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.

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