Cars.com Inc. (NYSE:CARS) Shares Sold by Assetmark Inc.

Key Points

• Assetmark Inc. reduced its stake in Cars.com by 41.9% in Q1, owning 37,234 shares worth approximately $420,000 after selling 26,875 shares.
• Cars.com shares are currently down 3.5%, trading at $12.43, with a market cap of $789.36 million and a P/E ratio of 18.27.
• Despite missing its earnings target, Cars.com has an average analyst rating of "Moderate Buy" with a projected price target of $18.30.

Assetmark Inc. lessened its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 41.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,234 shares of the company's stock after selling 26,875 shares during the quarter. Assetmark Inc. owned approximately 0.06% of Cars.com worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cars.com by 1.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,974 shares of the company's stock worth $970,000 after purchasing an additional 587 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cars.com by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 236,850 shares of the company's stock worth $4,105,000 after buying an additional 827 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Cars.com by 16.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,838 shares of the company's stock worth $133,000 after buying an additional 1,710 shares during the period. Benjamin Edwards Inc. boosted its holdings in Cars.com by 7.2% in the fourth quarter. Benjamin Edwards Inc. now owns 26,436 shares of the company's stock valued at $458,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Cars.com by 813.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $37,000 after acquiring an additional 1,878 shares during the period. Institutional investors and hedge funds own 89.15% of the company's stock.

Insider Buying and Selling

In other news, CEO Thomas Alex Vetter purchased 27,870 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $10.75 per share, with a total value of $299,602.50. Following the transaction, the chief executive officer owned 844,897 shares in the company, valued at approximately $9,082,642.75. The trade was a 3.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CARS shares. JPMorgan Chase & Co. upgraded Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 price objective on the stock in a report on Thursday, July 17th. UBS Group dropped their target price on shares of Cars.com from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.30.

Cars.com Stock Up 0.8%

Shares of CARS traded up $0.10 during midday trading on Tuesday, reaching $12.69. 443,011 shares of the company were exchanged, compared to its average volume of 771,024. Cars.com Inc. has a 1-year low of $9.56 and a 1-year high of $20.47. The stock has a 50-day moving average price of $11.73 and a 200-day moving average price of $12.68. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.93. The company has a market cap of $806.13 million, a price-to-earnings ratio of 18.65 and a beta of 1.76.

Cars.com (NYSE:CARS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The company had revenue of $179.02 million during the quarter, compared to analysts' expectations of $179.82 million. Cars.com had a return on equity of 16.86% and a net margin of 6.32%. The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. Research analysts expect that Cars.com Inc. will post 1.19 earnings per share for the current year.

Cars.com Company 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.