At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards Penske Automotive Group, Inc. (NYSE:PAG) at the end of the first quarter and determine whether the smart money was really smart about this stock.
Penske Automotive Group, Inc. (NYSE:PAG) investors should pay attention to a decrease in support from the world’s most elite money managers of late. Our calculations also showed that PAG isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look