Penske Automotive Group (NYSE:PAG), A increase of 240,591 shares or 8.6% was observed in the short interest of Penske Automotive Group Inc The interest on June 15,2016 came in at 3,022,480 shares and as per the average daily trading of 425,727 shares, the days to cover are 7. The increased interest is 8% of the floated shares. The data of May 31,2016 put the interest at 2,781,889 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Penske Automotive Group (NYSE:PAG): The stock opened at $34.51 on Friday but the bulls could not build on the opening and the stock topped out at $34.56 for the day. The stock traded down to $32.46 during the day, due to lack of any buying support eventually closed down at $33.19 with a loss of -10.35% for the day. The stock had closed at $37.02 on the previous day. The total traded volume was 2,505,226 shares.
The company shares have dropped -35.90% from its 1 Year high price. On Aug 6, 2015, the shares registered one year high at $54.39 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $36.99 and the 200 Day Moving Average price is recorded at $37.09.
Penske Automotive Group (NYSE:PAG) has tumbled 7.78% during the past week and has dropped 15.4% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.25%. Penske Automotive Group (NYSE:PAG) has underperformed the index by 12.84% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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 Companys retail automotive dealership operations and Other, which include the Companys 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.