Monday, October 23, 2017 10:15 PM ET
Insider Buying at Penske Automotive Group (PAG) Reverses the Selling Trend of Last 90 Days
Three insiders — MITSUI & CO LTD, 10% Owner, Penske Corp, 10% Owner, and Roger S Penske, 10% Owner, Director and Officer — acquired 2,207,992 shares of Penske Automotive Group having a market value of approximately $99,999,958 today, as shown in form 4 documents filed with the SEC. There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the sale of 5,000 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 1,098,996 shares and have averaged 829,247 shares per transaction over this time period.
Penske Automotive Group insider trading represents a higher number of buy/sell trades than for the 7 peer company average over the last 90-day period. The Auto Vehicles, Parts & Service Retailers peer group saw 12 buy/sell trades during this period for an average of 1.7 transactions per company. The number of shares per buy/sell trade for Penske Automotive Group insiders was also higher. Within the peer group there were 6,893 shares purchased and 486,101 shares sold with company insiders disposing of 39,934 shares on average.
The data used in evaluating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.
Today’s Insider Activity
* MITSUI & CO LTD, 10% Owner, sold 1,103,996 shares
* Penske Corp, 10% Owner, bought 1,103,996 shares
* Roger S Penske, 10% Owner, Director and Officer, bought 1,103,996 shares
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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