Goodnow Investment Group Lowers stake in Penske Automotive Group (PAG)

Penske Automotive Group (PAG) : Goodnow Investment Group reduced its stake in Penske Automotive Group by 55.12% during the most recent quarter end. The investment management company now holds a total of 222,124 shares of Penske Automotive Group which is valued at $9,169,279 after selling 272,800 shares in Penske Automotive Group , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Penske Automotive Group makes up approximately 2.01% of Goodnow Investment Group’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md boosted its stake in PAG in the latest quarter, The investment management firm added 2,700 additional shares and now holds a total of 12,304 shares of Penske Automotive Group which is valued at $507,909.Parametric Portfolio Associates boosted its stake in PAG in the latest quarter, The investment management firm added 363 additional shares and now holds a total of 50,727 shares of Penske Automotive Group which is valued at $2,094,011.Blackrock Japan Ltd boosted its stake in PAG in the latest quarter, The investment management firm added 10,996 additional shares and now holds a total of 12,267 shares of Penske Automotive Group which is valued at $506,382.Tlp Group boosted its stake in PAG in the latest quarter, The investment management firm added 7,928 additional shares and now holds a total of 14,028 shares of Penske Automotive Group which is valued at $559,016. Penske Automotive Group makes up approx 0.34% of Tlp Group’s portfolio.Cambiar Investors reduced its stake in PAG by selling 38,841 shares or 4.95% in the most recent quarter. The Hedge Fund company now holds 745,988 shares of PAG which is valued at $26,594,472. Penske Automotive Group makes up approx 0.36% of Cambiar Investors’s portfolio.

Penske Automotive Group opened for trading at $45.45 and hit $45.9 on the upside on Thursday, eventually ending the session at $45.37, with a gain of 0.15% or 0.07 points. The heightened volatility saw the trading volume jump to 8,76,599 shares. Company has a market cap of $3,864 M.

On the company’s financial health, Penske Automotive Group reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.09. The company had revenue of $5254.10 million for the quarter, compared to analysts expectations of $5189.47 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Penske Automotive Group. Penske Automotive Group was Initiated by Seaport Global Securities to “Neutral” on Aug 9, 2016. Penske Automotive Group was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Jun 28, 2016.

Penske Automotive Group Inc. is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles diesel engines gas engines power systems and related parts and services in Australia and New Zealand. The Company operates in two segments: Retail Automotive which includes the Company’s retail automotive dealership operations and Other which include the Company’s retail commercial vehicle dealership operations commercial vehicle distribution operations and its investments in non-automotive retail operations. The individual dealership operations of Retail Automotive segment operates in four geographic regions: Eastern Central Western United States and International. As of December 31 2014 the Company operated 327 automotive retail franchises of which 179 franchises are located in the United States and 148 franchises are located outside of the United States.

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