Prevatt Capital Ltd Has $49.33 Million Stake in CarGurus, Inc. (NASDAQ:CARG)

Prevatt Capital Ltd grew its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,350,000 shares of the company's stock after acquiring an additional 120,000 shares during the period. CarGurus comprises about 14.2% of Prevatt Capital Ltd's holdings, making the stock its largest holding. Prevatt Capital Ltd owned about 1.30% of CarGurus worth $49,329,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in CarGurus by 168.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after acquiring an additional 957,035 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of CarGurus by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after purchasing an additional 802,602 shares during the last quarter. No Street GP LP bought a new stake in shares of CarGurus in the 4th quarter worth approximately $25,578,000. Raymond James Financial Inc. purchased a new stake in shares of CarGurus in the 4th quarter worth approximately $19,465,000. Finally, Oberweis Asset Management Inc. bought a new position in CarGurus during the 4th quarter valued at approximately $18,270,000. Institutional investors own 86.90% of the company's stock.

CarGurus Stock Up 0.8%

CARG traded up $0.26 during midday trading on Tuesday, hitting $32.29. 245,350 shares of the company traded hands, compared to its average volume of 1,150,290. The company's 50-day moving average is $28.91 and its 200 day moving average is $33.81. The firm has a market capitalization of $3.37 billion, a PE ratio of 179.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. During the same period in the previous year, the company earned $0.32 earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm'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 transaction, the chief executive officer now directly owns 129,790 shares of the company's stock, valued at approximately $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares of the company's stock, valued at approximately $12,004,969.50. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,824 shares of company stock valued at $907,856 over the last 90 days. Company insiders own 16.99% of the company's stock.

Analyst Ratings Changes

CARG has been the topic of several analyst reports. UBS Group boosted their target price on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. JMP Securities lowered their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Needham & Company LLC reduced their price objective on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.95.

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.