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

Prevatt Capital Ltd increased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 investment portfolio, making the stock its biggest position. Prevatt Capital Ltd owned 1.30% of CarGurus worth $49,329,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC boosted its position in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock valued at $29,000 after acquiring an additional 532 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after acquiring an additional 456 shares in the last quarter. Principal Securities Inc. boosted its position in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after buying an additional 424 shares in the last quarter. USA Financial Formulas acquired a new position in CarGurus in the fourth quarter valued at about $35,000. Finally, GeoWealth Management LLC acquired a new position in CarGurus in the fourth quarter valued at about $49,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total transaction of $268,400.00. Following the completion of the sale, the chief operating officer now directly owns 503,382 shares of the company's stock, valued at $13,510,772.88. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock valued at $907,856 over the last ninety days. Insiders own 16.99% of the company's stock.

CarGurus Stock Performance

Shares of NASDAQ CARG traded down $0.44 during trading on Friday, reaching $32.46. The company had a trading volume of 803,509 shares, compared to its average volume of 874,976. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33. The stock has a market cap of $3.39 billion, a PE ratio of 180.34, a PEG ratio of 1.72 and a beta of 1.45. The business's 50 day moving average price is $28.89 and its 200-day moving average price is $33.78.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CARG shares. JMP Securities reduced 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. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Needham & Company LLC reduced their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Finally, Oppenheimer reduced their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.95.

CarGurus Company 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.