Acadian Asset Management LLC Has $24.31 Million Stake in CarGurus, Inc. $CARG

Key Points

• Acadian Asset Management LLC significantly increased its stake in CarGurus, Inc. by 185.2%, now owning 835,244 shares valued at approximately $24.31 million.
• CarGurus reported a quarterly earnings per share (EPS) of $0.57, surpassing analysts' expectations, along with a revenue of $234.03 million, representing a 7.0% increase compared to the previous year.
• Analysts have a mixed outlook on CarGurus, with some raising target prices, while others have downgraded their ratings, resulting in a consensus rating of "Hold" and an average target price of $38.46.

Acadian Asset Management LLC boosted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 185.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835,244 shares of the company's stock after purchasing an additional 542,382 shares during the period. Acadian Asset Management LLC owned 0.80% of CarGurus worth $24,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC boosted its position in CarGurus by 50.0% in the 1st quarter. Intech Investment Management LLC now owns 67,246 shares of the company's stock valued at $1,959,000 after buying an additional 22,425 shares during the last quarter. Jane Street Group LLC boosted its position in CarGurus by 113.0% in the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company's stock valued at $3,592,000 after buying an additional 65,420 shares during the last quarter. Bayforest Capital Ltd bought a new position in CarGurus in the 1st quarter valued at $82,000. Select Equity Group L.P. boosted its position in CarGurus by 106.6% in the 1st quarter. Select Equity Group L.P. now owns 913,975 shares of the company's stock valued at $26,624,000 after buying an additional 471,691 shares during the last quarter. Finally, Mount Capital Ltd bought a new position in CarGurus in the 1st quarter valued at $15,270,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Price Performance

Shares of CarGurus stock opened at $35.40 on Thursday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The stock's 50-day moving average is $33.38 and its 200-day moving average is $31.38. CarGurus, Inc. has a one year low of $24.65 and a one year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $234.03 million for the quarter, compared to analyst estimates of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, equities analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CARG shares. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Needham & Company LLC lifted their target price on CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen lowered CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. UBS Group lifted their target price on CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Citigroup reduced their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, CarGurus currently has a consensus rating of "Hold" and a consensus target price of $38.46.

Insider Buying and Selling

In other news, insider Ismail Elshareef sold 1,325 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $46,375.00. Following the sale, the insider directly owned 104,322 shares in the company, valued at $3,651,270. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Javier Zamora sold 6,154 shares of CarGurus stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $215,390.00. Following the completion of the sale, the general counsel directly owned 92,807 shares in the company, valued at approximately $3,248,245. This represents a 6.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,538 shares of company stock valued at $1,067,077. Corporate insiders own 16.99% of the company's stock.

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.

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