Acuitas Investments LLC Reduces Stock Position in TrueCar, Inc. (NASDAQ:TRUE)

Acuitas Investments LLC trimmed its position in TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 94.5% during the first quarter, according to the company in 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 0.06% of TrueCar worth $87,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of TrueCar by 2.6% in 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 during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of TrueCar by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company's stock valued at $1,945,000 after buying an additional 224,969 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of TrueCar by 113.0% during the 4th quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company's stock valued at $1,199,000 after buying an additional 170,475 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of TrueCar during the 4th quarter valued at about $930,000. Finally, Bank of America Corp DE raised its holdings 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 buying an additional 26,780 shares during the period. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

TrueCar Trading Up 3.8%

TRUE stock traded up $0.07 during midday trading on Friday, hitting $1.91. 203,804 shares of the company's stock were exchanged, compared to its average volume of 307,558. TrueCar, Inc. has a 12-month low of $1.05 and a 12-month high of $4.62. The firm has a 50 day moving average price of $1.58 and a 200-day moving average price of $2.28. The stock has a market capitalization of $167.47 million, a price-to-earnings ratio of -4.77 and a beta of 2.15.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Lake Street Capital downgraded TrueCar from a "buy" rating to a "hold" rating and dropped their target price for the company from $5.00 to $1.50 in a report on Tuesday, May 6th. Needham & Company LLC dropped their target price on TrueCar from $4.00 to $2.75 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen downgraded TrueCar from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. B. Riley reiterated a "neutral" rating on shares of TrueCar in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. downgraded TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, TrueCar presently has an average rating of "Hold" and an average price target of $3.19.

About TrueCar

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.