Health Care

Wedbush Securities Inc. invests in Penske Automotive Group Inc. (PAG) Shares

Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 2,275,649 shares of the stock are valued at $160.37 million. Penske Automotive Group, Inc.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crescent Grove Advisors LLC acquired a new stake in shares of Group 1 Automotive in the second quarter valued at approximately $21,536,000. The Manufacturers Life Insurance Company now owns 1,802,293 shares of the company's stock valued at $114,122,000 after acquiring an additional 295,967 shares during the period. Amalgamated Bank grew its stake in shares of Penske Automotive Group by 3.4% during the first quarter. Karp Capital Management Corp acquired a new stake in Penske Automotive Group during the 1st quarter valued at $343,000. Northern Trust Corp now owns 765,256 shares of the company's stock valued at $48,456,000 after acquiring an additional 157,223 shares during the period. This is an increase from Penske Automotive Group's previous quarterly dividend of $0.32.

Penske Automotive Group, Inc is an worldwide transportation services company. With 423,500 avg volume, 8 days are for Penske Automotive Group Incorporated (NYSE:PAG)'s short sellers to cover PAG's short positions. 363,728 shares of the company were exchanged. Penske Auto has recorded a 50-day average of $45.54 and a two hundred day average of $43.91.

The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.06 and a beta of 1.63. $474,569 worth of Penske Automotive Group, Inc. (NYSE:GPI) posted its quarterly earnings results on Thursday. Among active positions in the latest quarter, 86 holders increased their positions by a total of 2.19 million shares, 105 holders decreased the positions by a total of 1.64 million shares, and 29 holders held their positions.

Among 5 analysts covering VeriSign (NASDAQ:VRSN), 1 have Buy rating, 1 Sell and 3 Hold. Investors who are keeping close eye on the stock of Group 1 Automotive, Inc. The firm's revenue was up 6.7% on a year-over-year basis. (GPI)'s shares. The total value of these holdings, in millions, is $1,482.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. The ex-dividend date is Thursday, November 9th. This represents a $1.32 annualized dividend and a yield of 2.76%. Penske Automotive Group's dividend payout ratio (DPR) is presently 30.05%. On average, analysts expect that Penske Automotive Group will post $4.30 EPS for the current year.

Analysts often look at short interest, or the number of shares now being shorted by investors, to aid in their outlook for a particular stock. Zacks Investment Research upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Thursday. Gabelli lifted their price objective on Penske Automotive Group from $68.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday.

Penske Automotive Group announced that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. Robert W. Baird has "Hold" rating and $290.0 target.

In other news, CFO John C. Rickel sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. KeyCorp reaffirmed a "hold" rating on shares of Group 1 Automotive in a report on Wednesday, October 4th.

Several research analysts have issued reports on the company. Robert W. Baird maintained the shares of VRSN in report on Friday, October 6 with "Hold" rating. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Corp Penske bought 710,121 shares of the business's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $41.27, for a total transaction of $206,350.00. The disclosure for this purchase can be found here. Institutional owners hold 79.50% stake in the company, while insiders ownership held at 1.40%. The Company's divisions include Retail Automotive, consisting of its retail automotive dealership operations; Retail Commercial Truck, consisting of its retail commercial truck dealership activities in the United States and Canada; Other, consisting of its commercial vehicle and power systems distribution activities and other non-automotive consolidated operations, and Non-Automotive Investments, consisting of its equity method investments in non-automotive operations. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and fix services, and sells vehicle parts.

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