International Assets Investment Management LLC Increases Stake in Penske Automotive Group, Inc. (NYSE:PAG)

International Assets Investment Management LLC grew its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 15,960.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 66,973 shares of the company's stock after buying an additional 66,556 shares during the period. International Assets Investment Management LLC owned approximately 0.10% of Penske Automotive Group worth $10,750,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Penske Automotive Group in the 3rd quarter worth approximately $226,000. State of Alaska Department of Revenue bought a new stake in Penske Automotive Group in the 3rd quarter valued at $390,000. Commonwealth Equity Services LLC raised its stake in shares of Penske Automotive Group by 5.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,471 shares of the company's stock valued at $747,000 after buying an additional 224 shares in the last quarter. Xponance Inc. acquired a new position in shares of Penske Automotive Group in the 3rd quarter valued at $466,000. Finally, Raymond James & Associates lifted its holdings in shares of Penske Automotive Group by 6.0% during the 3rd quarter. Raymond James & Associates now owns 25,068 shares of the company's stock worth $4,188,000 after acquiring an additional 1,408 shares during the period. Institutional investors own 77.08% of the company's stock.

Insider Transactions at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,604 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John Barr sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the transaction, the director now directly owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,604 shares of the stock in a transaction that occurred 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 completion of the transaction, 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. 52.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PAG. Bank of America upped their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Morgan Stanley upped their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company 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 issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Penske Automotive Group presently has a consensus rating of "Hold" and an average target price of $163.20.

Penske Automotive Group Price Performance

Penske Automotive Group stock traded up $0.49 during trading hours on Monday, hitting $153.93. 152,384 shares of the stock were exchanged, compared to its average volume of 201,178. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The stock has a market capitalization of $10.29 billion, a P/E ratio of 10.67 and a beta of 1.21. Penske Automotive Group, Inc. has a 12 month low of $136.45 and a 12 month high of $180.84. The business's 50-day moving average is $153.72 and its two-hundred day moving average is $152.83.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.35 by ($0.14). The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. Penske Automotive Group's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.31 earnings per share. Equities research analysts expect that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Penske Automotive Group 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.