Bank of America Corp DE Has $1.97 Million Stake in Cars.com Inc. $CARS

Key Points

• Bank of America cut its Cars.com stake by 73.7% in the first quarter, retaining 243,124 shares valued at approximately $1.97 million, or 0.43% of the company.
• Institutional ownership remains high at 89.15%, with Pale Fire Capital increasing its holdings by nearly 498% and JPMorgan more than doubling its position.
• Analysts maintain a consensus “Hold” rating with an average price target of $14.83. Cars.com met quarterly EPS estimates at $0.51, while revenue rose 0.7% year over year to $179.93 million.

Bank of America Corp DE lowered its position in Cars.com Inc. (NYSE:CARS - Free Report) by 73.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 243,124 shares of the company's stock after selling 679,964 shares during the period. Bank of America Corp DE owned 0.43% of Cars.com worth $1,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pale Fire Capital SE increased its holdings in Cars.com by 498.1% during the 1st quarter. Pale Fire Capital SE now owns 3,956,618 shares of the company's stock valued at $32,128,000 after purchasing an additional 3,295,117 shares in the last quarter. Par Capital Management Inc. acquired a new position in Cars.com in the second quarter worth $14,220,000. Breach Inlet Capital Management LLC acquired a new position in Cars.com in the fourth quarter worth $8,899,000. JPMorgan Chase & Co. grew its holdings in shares of Cars.com by 112.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,127,095 shares of the company's stock worth $13,751,000 after purchasing an additional 595,609 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Cars.com during the second quarter worth $3,776,000. 89.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on CARS shares. B. Riley Financial downgraded shares of Cars.com from a "buy" rating to a "neutral" rating and set a $13.00 price target on the stock. in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Cars.com from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. BTIG Research reaffirmed a "buy" rating and issued a $14.00 target price on shares of Cars.com in a research note on Thursday, August 6th. Zacks Research raised shares of Cars.com from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Cars.com from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.83.

Cars.com Stock Performance

Cars.com stock opened at $12.01 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Cars.com Inc. has a 1 year low of $7.40 and a 1 year high of $13.97. The company has a market cap of $642.79 million, a PE ratio of 21.07 and a beta of 1.59. The company's 50-day moving average is $11.75 and its two-hundred day moving average is $10.39.

Cars.com (NYSE:CARS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Cars.com had a net margin of 4.73% and a return on equity of 18.82%. The company had revenue of $179.93 million for the quarter, compared to analyst estimates of $180.53 million. During the same quarter last year, the firm earned $0.41 EPS. The company's revenue for the quarter was up .7% on a year-over-year basis. Equities analysts anticipate that Cars.com Inc. will post 1.61 earnings per share for the current year.

Insiders Place Their Bets

In other Cars.com news, CFO Sonia Jain sold 34,021 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.49, for a total transaction of $322,859.29. Following the completion of the sale, the chief financial officer owned 312,833 shares in the company, valued at approximately $2,968,785.17. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angelique Strong Marks sold 57,980 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $11.94, for a total transaction of $692,281.20. Following the sale, the insider owned 149,636 shares of the company's stock, valued at $1,786,653.84. The trade was a 27.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 152,580 shares of company stock valued at $1,615,796. Company insiders own 3.36% of the company's stock.

Cars.com Profile

Cars.com operates as a leading online automotive marketplace in the United States, connecting car shoppers with new and used vehicle listings from dealerships and private sellers. The platform enables consumers to research makes and models, compare prices, read expert and user reviews, and access tools such as TrueCost to estimate ownership expenses over time. Through its website and mobile applications, Cars.com aims to simplify the car-buying process by aggregating detailed vehicle data, payment calculators, and dealership ratings into a single user-friendly experience.

On the dealer side, Cars.com provides a suite of marketing and lead-generation services designed to help automotive retailers reach potential buyers and manage their online presence.

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