Bayforest Capital Ltd Has $105,000 Holdings in Penske Automotive Group, Inc. $PAG

by · The Cerbat Gem

Bayforest Capital Ltd lessened its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 50.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 610 shares of the company’s stock after selling 626 shares during the quarter. Bayforest Capital Ltd’s holdings in Penske Automotive Group were worth $105,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Penske Automotive Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,004,832 shares of the company’s stock valued at $288,656,000 after purchasing an additional 5,641 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in Penske Automotive Group by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 863,529 shares of the company’s stock valued at $124,331,000 after purchasing an additional 56,669 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Penske Automotive Group by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after buying an additional 84,045 shares in the last quarter. Invesco Ltd. grew its stake in Penske Automotive Group by 3.4% during the first quarter. Invesco Ltd. now owns 223,630 shares of the company’s stock worth $32,198,000 after buying an additional 7,276 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Penske Automotive Group by 30.9% during the first quarter. Millennium Management LLC now owns 167,905 shares of the company’s stock worth $24,175,000 after buying an additional 39,622 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $169.69 on Friday. The business’s 50-day simple moving average is $178.48 and its 200 day simple moving average is $169.47. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 11.81 and a beta of 0.88. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $189.51.

Penske Automotive Group (NYSE:PAG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.22. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.98 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. Penske Automotive Group’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.32. This represents a $5.52 annualized dividend and a yield of 3.3%. Penske Automotive Group’s payout ratio is currently 36.74%.

Insider Transactions at Penske Automotive Group

In related news, Director Lisa Ann Davis sold 1,604 shares of Penske Automotive Group stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $180.74, for a total transaction of $289,906.96. Following the transaction, the director owned 1,529 shares of the company’s stock, valued at $276,351.46. This trade represents a 51.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michelle Hulgrave sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total transaction of $200,805.00. Following the completion of the sale, the chief financial officer directly owned 18,922 shares of the company’s stock, valued at $3,454,211.10. The trade was a 5.49% decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on PAG shares. JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “buy (b+)” rating on shares of Penske Automotive Group in a research note on Wednesday, October 8th. Citigroup upped their price target on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Morgan Stanley raised their price objective on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, Benchmark upped their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.17.

Check Out Our Latest Stock Analysis on Penske Automotive Group

Penske Automotive Group Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penske Automotive Group, Inc. (NYSE:PAG – Free Report).