Boston Partners Trims Stake in Cars.com Inc. $CARS

Key Points

• Boston Partners significantly reduced its stake in Cars.com Inc. by 66.7%, selling over 2 million shares, and now holds 1.67% of the company valued at approximately $11.9 million.
• Cars.com recently reported a missed EPS estimate with earnings of $0.41 per share against a consensus of $0.45, and a revenue of $178.74 million compared to expectations of $179.43 million.
• Analysts have mixed views on Cars.com, with ratings ranging from a "buy" with a $22.00 target from B. Riley to a "neutral" with a $11.00 target from UBS Group.

Boston Partners decreased its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 66.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,059,375 shares of the company's stock after selling 2,119,051 shares during the quarter. Boston Partners owned approximately 1.67% of Cars.com worth $11,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARS. JPMorgan Chase & Co. increased its position in Cars.com by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 236,850 shares of the company's stock worth $4,105,000 after buying an additional 827 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Cars.com by 26.4% during the fourth quarter. Wells Fargo & Company MN now owns 39,423 shares of the company's stock worth $683,000 after purchasing an additional 8,237 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Cars.com by 17.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 351,438 shares of the company's stock worth $6,090,000 after purchasing an additional 51,933 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cars.com during the fourth quarter worth about $226,000. Finally, Sterling Capital Management LLC grew its position in shares of Cars.com by 813.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock worth $37,000 after purchasing an additional 1,878 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company's stock.

Insider Activity

In related news, insider Matthew B. Crawford sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.77, for a total transaction of $176,550.00. Following the completion of the sale, the insider directly owned 98,461 shares of the company's stock, valued at approximately $1,158,885.97. This trade represents a 13.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.12% of the company's stock.

Cars.com Price Performance

Cars.com stock traded down $0.1950 during midday trading on Wednesday, reaching $12.0450. 266,717 shares of the stock traded hands, compared to its average volume of 801,058. The stock has a market cap of $740.04 million, a P/E ratio of 19.48 and a beta of 1.76. Cars.com Inc. has a 12 month low of $9.56 and a 12 month high of $20.47. The stock's fifty day moving average is $12.24 and its 200-day moving average is $12.31. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94.

Cars.com (NYSE:CARS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $178.74 million during the quarter, compared to the consensus estimate of $179.43 million. Cars.com had a net margin of 5.71% and a return on equity of 17.43%. Cars.com's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that Cars.com Inc. will post 1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group cut their target price on Cars.com from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. B. Riley reiterated a "buy" rating and set a $22.00 target price (up previously from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Wall Street Zen upgraded Cars.com from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upgraded Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 target price for the company in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.30.

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.