Acuitas Investments LLC Cuts Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Acuitas Investments LLC reduced its holdings in TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 94.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,000 shares of the technology company's stock after selling 944,668 shares during the quarter. Acuitas Investments LLC owned about 0.06% of TrueCar worth $87,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp boosted its position in shares of TrueCar by 2.6% during the 4th quarter. Northern Trust Corp now owns 714,729 shares of the technology company's stock worth $2,666,000 after purchasing an additional 17,790 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in TrueCar by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company's stock worth $1,945,000 after buying an additional 224,969 shares during the period. JPMorgan Chase & Co. grew its position in TrueCar by 113.0% during the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company's stock worth $1,199,000 after buying an additional 170,475 shares during the period. Raymond James Financial Inc. purchased a new position in TrueCar in the fourth quarter valued at about $930,000. Finally, Bank of America Corp DE lifted its position in shares of TrueCar by 14.4% during the 4th quarter. Bank of America Corp DE now owns 212,804 shares of the technology company's stock valued at $794,000 after acquiring an additional 26,780 shares during the period. 79.44% of the stock is owned by institutional investors and hedge funds.

TrueCar Trading Up 3.8%

Shares of TrueCar stock traded up $0.07 during trading hours on Friday, reaching $1.91. 203,804 shares of the company's stock were exchanged, compared to its average volume of 308,325. TrueCar, Inc. has a 52-week low of $1.05 and a 52-week high of $4.62. The firm has a market capitalization of $167.47 million, a price-to-earnings ratio of -4.77 and a beta of 2.15. The company has a fifty day moving average of $1.59 and a 200-day moving average of $2.25.

Analyst Upgrades and Downgrades

TRUE has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on TrueCar from $4.00 to $2.75 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen downgraded TrueCar from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. downgraded shares of TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. Lake Street Capital downgraded TrueCar from a "buy" rating to a "hold" rating and cut their price objective for the stock from $5.00 to $1.50 in a research report on Tuesday, May 6th. Finally, Citigroup lowered TrueCar to an "underweight" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $3.19.

TrueCar Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.