Renaissance Technologies LLC Has $5.03 Million Stake in Penske Automotive Group (PAG)

Renaissance Technologies LLC cut its position in Penske Automotive Group (NYSE:PAG) by 50.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,200 shares of the company’s stock after selling 106,500 shares during the quarter. Renaissance Technologies LLC owned 0.12% of Penske Automotive Group worth $5,034,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Penske Automotive Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after buying an additional 175 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Penske Automotive Group in the 4th quarter valued at approximately $129,000. Jane Street Group LLC acquired a new position in shares of Penske Automotive Group in the 3rd quarter valued at approximately $201,000. Investors Research Corp acquired a new position in shares of Penske Automotive Group in the 4th quarter valued at approximately $263,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Penske Automotive Group in the 4th quarter valued at approximately $269,000. Institutional investors own 41.30% of the company’s stock.

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In other Penske Automotive Group news, major shareholder & Co Ltd Mitsui sold 1,133,016 shares of the business’s stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $44.13, for a total transaction of $49,999,996.08. Following the sale, the insider now directly owns 10,658,163 shares of the company’s stock, valued at approximately $470,344,733.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 41.60% of the company’s stock.

Shares of Penske Automotive Group stock opened at $44.15 on Tuesday. The company has a market cap of $3,706.00, a P/E ratio of 10.24, a P/E/G ratio of 1.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.22 and a current ratio of 1.01. Penske Automotive Group has a 1 year low of $38.33 and a 1 year high of $54.83.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Penske Automotive Group had a net margin of 2.87% and a return on equity of 17.67%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same period in the previous year, the firm posted $0.91 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. equities research analysts forecast that Penske Automotive Group will post 5.06 EPS for the current year.

PAG has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, December 26th. Guggenheim initiated coverage on shares of Penske Automotive Group in a report on Monday. They set a “buy” rating on the stock. Bank of America lifted their price target on shares of Penske Automotive Group from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 9th. ValuEngine lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Morgan Stanley lifted their price target on shares of Penske Automotive Group from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.14.

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About Penske Automotive Group

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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

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