Penske Automotive Group Inc. said Friday its board has added $250 million to its share buyback authorization, which had $3.6 million remaining outstanding as...
Penske Automotive Group Inc. PAG said Friday its board has added $250 million to its share buyback authorization, which had $3.6 million remaining outstanding as of Feb. 7. The car and commercial truck retailer bought back 8.2 million shares in 2022, equal to about 10.6% of its outstanding shares. In the period stretching from Jan. 1, 2023 to Feb.7, it repurchased 0.6 million shares for $70.7 million. The stock has gained 48% in the last 12 months, while the S&P 500 SPX has fallen 7%.
... Penske Automotive Group Inc. PAG said Friday its board has added $250 million to its share buyback authorization, which had $3.6 million remaining outstanding as of Feb. 7. The car and commercial truck retailer bought back 8.2 million shares in 2022, equal to about 10.6% of its outstanding shares. In the period stretching from Jan. 1, 2023 to Feb.7, it repurchased 0.6 million shares for $70.7 million. The stock has gained 48% in the last 12 months, while the S&P 500 SPX has fallen 7%.
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