Envestnet Asset Management Inc. Raises Holdings in Cars.com Inc. (NYSE:CARS)

Envestnet Asset Management Inc. lifted its position in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,438 shares of the company's stock after purchasing an additional 51,933 shares during the quarter. Envestnet Asset Management Inc. owned 0.54% of Cars.com worth $6,090,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CARS. Nordea Investment Management AB increased its holdings in Cars.com by 35.9% in the 4th quarter. Nordea Investment Management AB now owns 280,475 shares of the company's stock worth $4,939,000 after acquiring an additional 74,133 shares in the last quarter. Villanova Investment Management Co LLC acquired a new position in shares of Cars.com during the 4th quarter worth about $3,890,000. Integrated Quantitative Investments LLC purchased a new position in Cars.com in the 4th quarter valued at about $1,081,000. Smartleaf Asset Management LLC increased its stake in Cars.com by 193.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock worth $29,000 after buying an additional 1,079 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cars.com by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,121,007 shares of the company's stock valued at $123,407,000 after acquiring an additional 115,083 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CARS. Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of Cars.com in a research report on Tuesday, March 4th. UBS Group dropped their target price on shares of Cars.com from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Finally, DA Davidson dropped their price objective on shares of Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

Cars.com Stock Up 0.5 %

Shares of NYSE:CARS traded up $0.06 on Friday, hitting $11.83. 454,267 shares of the company's stock were exchanged, compared to its average volume of 612,932. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. Cars.com Inc. has a 1-year low of $9.87 and a 1-year high of $21.24. The company has a market capitalization of $751.54 million, a PE ratio of 20.40 and a beta of 1.92. The firm's 50-day moving average is $12.09 and its 200 day moving average is $15.72.

Cars.com Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.