Susquehanna Fundamental Investments LLC Acquires New Shares in CarGurus, Inc. (NASDAQ:CARG)

Susquehanna Fundamental Investments LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 16,700 shares of the company's stock, valued at approximately $610,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of CarGurus by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock worth $353,959,000 after acquiring an additional 225,430 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after buying an additional 802,602 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after buying an additional 957,035 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CarGurus by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock valued at $39,237,000 after acquiring an additional 30,593 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in CarGurus by 35.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company's stock valued at $34,603,000 after acquiring an additional 245,919 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded up $0.39 on Wednesday, hitting $28.34. 861,880 shares of the company were exchanged, compared to its average volume of 863,751. The company's 50 day moving average price is $28.83 and its two-hundred day moving average price is $33.75. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 157.44, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. Research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the transaction, the chief operating officer now directly owns 503,382 shares in the company, valued at approximately $13,510,772.88. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the sale, the chief executive officer now directly owns 129,790 shares of the company's stock, valued at $3,469,286.70. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,824 shares of company stock worth $907,856. 17.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CARG has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and cut their price target for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. UBS Group cut their price objective on CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Oppenheimer decreased their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Finally, JMP Securities dropped their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CarGurus has a consensus rating of "Moderate Buy" and a consensus price target of $37.14.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.