This article first appeared on GuruFocus.
ETF flows have leaned toward selling Penske Automotive for three straight sessions, and Wednesday’s net outflow of $19.0 million was the largest of the run. More funds traded the other way, with 14 ETFs buying versus 5 selling, but their purchases were smaller in dollar terms. The prior sessions saw net selling of $5.2 million on Oct. 27 and $0.1 million on Oct. 26, following small net buying on Oct. 23 and Oct. 22.
More on GuruFocus: ETF Trends | ETF Screener
For the full record of ETF and guru buying and selling in PAG, see the PAG guru trades page.
Which ETFs sold PAG on Wednesday?
The largest sellers by dollar value were DFAT ($19.0 million), DFSV ($0.3 million) and IWB ($0.0 million). In all, 14 ETFs added shares and 5 cut them.
DFAT accounted for the bulk of the move, cutting its stake by 39.98% with a $19.0 million reduction in value, while DFSV trimmed 0.62% for a $0.3 million decrease. IWB and IWS posted only fractional declines. Penske Automotive operates in the Consumer Cyclical sector within Auto & Truck Dealerships and carries a market cap of $13.9 billion.
Have ETFs been buying or selling PAG lately?
Over the last 5 reported days, ETFs were net buyers on 2 and net sellers on 3, so the recent trend is mostly selling.
What does PAG do?
Penske Automotive Group Inc. is a diversified international transportation services company headquartered in Bloomfield Hills, Michigan. Its core business is automotive retail, operating franchised dealerships in the United States, the United Kingdom, Germany, Italy, and Japan that sell new and used vehicles across numerous brands, with a concentration in luxury and import nameplates.
Penske Automotive reported trailing-12-month revenue of $32.56 billion, up 1.8% over one year, with a gross margin of 15.5% and a net margin of 2.8%. It trades at a P/E of 20.51, P/B of 2.34 and P/S of 0.43, with a market cap of $13.9 billion. Its GF Score is 86, and the GF Value of $174.49 compares with a price of $212.34. The dividend yield is 2.45%, and the stock has returned 37.4% year to date.
PAG at a glance
Source: finance.yahoo.com
