Donaldson Capital Management buys $16,937,597 stake in Penske Automotive Group (PAG)

Penske Automotive Group (PAG) : Donaldson Capital Management scooped up 3,353 additional shares in Penske Automotive Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 410,310 shares of Penske Automotive Group which is valued at $16,937,597.Penske Automotive Group makes up approximately 2.26% of Donaldson Capital Management’s portfolio.

Other Hedge Funds, Including , Walleye Trading boosted its stake in PAG in the latest quarter, The investment management firm added 1,294 additional shares and now holds a total of 7,289 shares of Penske Automotive Group which is valued at $300,890. Penske Automotive Group makes up approx 0.02% of Walleye Trading’s portfolio.Burney Co reduced its stake in PAG by selling 2,964 shares or 15.21% in the most recent quarter. The Hedge Fund company now holds 16,524 shares of PAG which is valued at $682,111. Penske Automotive Group makes up approx 0.05% of Burney Co’s portfolio.Vanguard Group Inc boosted its stake in PAG in the latest quarter, The investment management firm added 9,121 additional shares and now holds a total of 2,737,562 shares of Penske Automotive Group which is valued at $113,006,559. Penske Automotive Group makes up approx 0.01% of Vanguard Group Inc’s portfolio. Nine Chapters Capital Management sold out all of its stake in PAG during the most recent quarter. The investment firm sold 21,400 shares of PAG which is valued $852,790.Diam Ltd. boosted its stake in PAG in the latest quarter, The investment management firm added 9,225 additional shares and now holds a total of 44,105 shares of Penske Automotive Group which is valued at $1,709,069. Penske Automotive Group makes up approx 0.02% of Diam Ltd.’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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