Nisa Investment Advisors LLC raised its stake in Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,916 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Penske Automotive Group were worth $3,951,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in shares of Penske Automotive Group during the fourth quarter worth $287,000. GAMMA Investing LLC grew its holdings in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Penske Automotive Group by 65.6% during the third quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock worth $1,906,000 after purchasing an additional 4,877 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Penske Automotive Group by 5.1% during the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after purchasing an additional 88 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group during the third quarter worth $94,000. 77.08% of the stock is currently owned by institutional investors.
Penske Automotive Group Trading Down 0.8 %
Shares of PAG opened at $161.07 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $179.72. The firm has a market capitalization of $10.75 billion, a PE ratio of 12.34 and a beta of 1.20. The stock’s fifty day simple moving average is $159.57 and its 200-day simple moving average is $159.34.
Wall Street Analysts Forecast Growth
Separately, Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.25.
Check Out Our Latest Analysis on PAG
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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