Penske Automotive Group (PAG) : Traders are bullish on Penske Automotive Group (PAG) as it has outperformed the S&P 500 by a wide margin of 17.68% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.14%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.2% in the last 1 week, and is up 18.89% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 10.04% and the 50-Day Moving Average is 15.79%. Penske Automotive Group (NYSE:PAG): On Fridays trading session , Opening price of the stock was $41.18 with an intraday high of $41.86. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $40.86. However, the stock managed to close at $41.28, a loss of 0.05% for the day. On the previous day, the stock had closed at $41.3. The total traded volume of the day was 688,274 shares.
The company Insiders own 37.2% of Penske Automotive Group shares according to the proxy statements. Institutional Investors own 40.34% of Penske Automotive Group shares. Also, Seaport Global initiates coverage on Penske Automotive Group (NYSE:PAG).The analysts at the brokerage house have a current rating of Neutral on the shares. The rating by the firm was issued on August 9, 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 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.