Merit Financial Group LLC Invests $287,000 in Penske Automotive Group, Inc. (NYSE:PAG)

Merit Financial Group LLC bought a new stake in Penske Automotive Group, Inc. (NYSE:PAGFree Report) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,885 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its holdings in Penske Automotive Group by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock valued at $316,000 after buying an additional 69 shares during the period. Applied Capital LLC FL boosted its position in shares of Penske Automotive Group by 0.4% during the 3rd quarter. Applied Capital LLC FL now owns 21,176 shares of the company’s stock valued at $3,439,000 after acquiring an additional 77 shares in the last quarter. GAMMA Investing LLC increased its stake in Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the period. Quantinno Capital Management LP raised its position in Penske Automotive Group by 0.5% in the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after purchasing an additional 82 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Penske Automotive Group by 5.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,708 shares of the company’s stock worth $277,000 after purchasing an additional 84 shares during the period. 77.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $170.25.

View Our Latest Report on PAG

Penske Automotive Group Stock Down 0.8 %

Shares of NYSE:PAG opened at $161.07 on Friday. The company’s fifty day moving average is $159.57 and its 200-day moving average is $159.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $179.72. The company has a market capitalization of $10.75 billion, a PE ratio of 12.34 and a beta of 1.20.

Penske Automotive Group (NYSE:PAGGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. Penske Automotive Group’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.90 earnings per share. Equities research analysts predict that Penske Automotive Group, Inc. will post 13.53 earnings per share for the current fiscal year.

Penske Automotive Group 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.

See Also

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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