Bank of New York Mellon Corp Makes New $2.75 Million Investment in Cars.com Inc. $CARS

Key Points

• Bank of New York Mellon acquired 251,160 Cars.com shares worth approximately $2.75 million, giving it a 0.45% stake. Institutional investors collectively own 89.15% of the company.
• Cars.com reported quarterly EPS of $0.51, matching analyst estimates, while revenue reached $179.93 million and increased 0.7% year over year.
• Analysts maintain a consensus “Hold” rating with a $14.83 average price target; shares recently opened at $11.72. Insiders have sold 152,580 shares worth about $1.62 million over the past 90 days.

Bank of New York Mellon Corp purchased a new position in shares of Cars.com Inc. (NYSE:CARS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 251,160 shares of the company's stock, valued at approximately $2,748,000. Bank of New York Mellon Corp owned 0.45% of Cars.com at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of Cars.com by 77.9% during the 1st quarter. Renaissance Technologies LLC now owns 580,189 shares of the company's stock worth $4,711,000 after acquiring an additional 253,991 shares during the last quarter. Weiss Asset Management LP bought a new position in Cars.com in the 1st quarter valued at $1,055,000. LSV Asset Management grew its position in Cars.com by 83.3% in the 4th quarter. LSV Asset Management now owns 191,000 shares of the company's stock valued at $2,330,000 after acquiring an additional 86,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cars.com by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,401,523 shares of the company's stock worth $27,620,000 after purchasing an additional 262,443 shares during the period. Finally, Sei Investments Co. lifted its holdings in Cars.com by 47.0% during the 1st quarter. Sei Investments Co. now owns 308,255 shares of the company's stock valued at $2,503,000 after buying an additional 98,499 shares in the last quarter. 89.15% of the stock is currently owned by institutional investors.

Cars.com Price Performance

Shares of Cars.com stock opened at $11.72 on Tuesday. The firm has a market cap of $627.37 million, a PE ratio of 20.56 and a beta of 1.59. Cars.com Inc. has a twelve month low of $7.40 and a twelve month high of $13.97. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $11.82 and a 200 day moving average price of $10.40.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CARS shares. Weiss Ratings upgraded Cars.com from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 13th. Zacks Research upgraded Cars.com from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. BTIG Research reiterated a "buy" rating and issued a $14.00 price target on shares of Cars.com in a report on Thursday, August 6th. Finally, UBS Group upped their price target on shares of Cars.com from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $14.83.

Insider Activity

In other news, Director Jr. Donald A. Mcgovern sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $12.25, for a total value of $98,000.00. Following the transaction, the director owned 102,900 shares in the company, valued at $1,260,525. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sonia Jain sold 34,021 shares of Cars.com stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $9.49, for a total value of $322,859.29. Following the completion of the sale, the chief financial officer directly owned 312,833 shares in the company, valued at $2,968,785.17. This represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 152,580 shares of company stock worth $1,615,796 over the last 90 days. 3.36% of the stock is currently owned by company insiders.

Cars.com Company 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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