Fenimore Asset Management Inc buys $10,215,489 stake in Penske Automotive Group (PAG)

Penske Automotive Group (PAG) : Fenimore Asset Management Inc scooped up 65,175 additional shares in Penske Automotive Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 221,450 shares of Penske Automotive Group which is valued at $10,215,489.Penske Automotive Group makes up approximately 0.50% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in PAG in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 32,300 shares of Penske Automotive Group which is valued at $1,489,999. Penske Automotive Group makes up approx 0.02% of Nisa Investment Advisors’s portfolio. Gradient Investments added PAG to its portfolio by purchasing 118,531 company shares during the most recent quarter which is valued at $5,644,446. Penske Automotive Group makes up approx 0.56% of Gradient Investments’s portfolio.Advisory Services Network boosted its stake in PAG in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 260 shares of Penske Automotive Group which is valued at $12,472. Simplex Trading sold out all of its stake in PAG during the most recent quarter. The investment firm sold 1,516 shares of PAG which is valued $72,723.

Penske Automotive Group closed down -1.49 points or -3.13% at $46.13 with 14,73,114 shares getting traded on Tuesday. Post opening the session at $47.73, the shares hit an intraday low of $45.93 and an intraday high of $47.73 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 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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