Chase Investment Counsel Corp Purchases New Position in Penske Automotive Group, Inc. (NYSE:PAG)

Chase Investment Counsel Corp bought a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,000 shares of the company's stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAG. Venturi Wealth Management LLC boosted its holdings in shares of Penske Automotive Group by 113.6% during the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company's stock worth $29,000 after purchasing an additional 92 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in Penske Automotive Group in the 3rd quarter valued at about $35,000. Grove Bank & Trust increased its stake in shares of Penske Automotive Group by 100.0% during the 3rd quarter. Grove Bank & Trust now owns 250 shares of the company's stock valued at $42,000 after acquiring an additional 125 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Penske Automotive Group by 91.2% during the 4th quarter. Blue Trust Inc. now owns 346 shares of the company's stock worth $58,000 after acquiring an additional 165 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Penske Automotive Group by 155.3% in the third quarter. Exchange Traded Concepts LLC now owns 457 shares of the company's stock worth $76,000 after acquiring an additional 278 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $239,605.52. Following the sale, the director now owns 51,001 shares of the company's stock, valued at approximately $7,618,529.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John Barr sold 1,600 shares of the 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 $110,299.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The disclosure for this sale can be found here. Insiders own 52.20% of the company's stock.

Penske Automotive Group Stock Down 0.2 %

NYSE:PAG traded down $0.25 during mid-day trading on Monday, hitting $155.38. The company had a trading volume of 299,090 shares, compared to its average volume of 199,394. The business has a fifty day simple moving average of $153.37 and a 200-day simple moving average of $152.77. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 10.04 and a beta of 1.19. Penske Automotive Group, Inc. has a 1 year low of $133.72 and a 1 year high of $180.84. The company has a current ratio of 1.00, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.66 by ($0.21). The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. Penske Automotive Group's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.21 EPS. Equities analysts forecast that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of 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 upped their price objective on Penske Automotive Group from $107.00 to $115.00 and gave the stock an "underweight" rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Penske Automotive Group presently has an average rating of "Hold" and a consensus price target of $163.20.

Penske Automotive Group Company Profile

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.