Mackenzie Financial Corp Boosts Holdings in CarGurus, Inc. (NASDAQ:CARG)

Mackenzie Financial Corp raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 243.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,383 shares of the company's stock after buying an additional 52,006 shares during the period. Mackenzie Financial Corp owned about 0.07% of CarGurus worth $2,681,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PharVision Advisers LLC bought a new position in CarGurus in the 4th quarter worth about $243,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CarGurus by 30.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,796 shares of the company's stock worth $7,264,000 after acquiring an additional 46,298 shares in the last quarter. Voloridge Investment Management LLC bought a new position in CarGurus in the 4th quarter worth about $480,000. Tybourne Capital Management HK Ltd. grew its stake in CarGurus by 165.4% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 265,346 shares of the company's stock worth $9,696,000 after acquiring an additional 165,365 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in CarGurus in the 4th quarter worth about $322,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Trading Down 0.8%

Shares of NASDAQ CARG traded down $0.25 during midday trading on Friday, reaching $31.21. The company had a trading volume of 807,464 shares, compared to its average volume of 877,062. The business's 50-day simple moving average is $29.09 and its 200 day simple moving average is $33.64. The stock has a market cap of $3.26 billion, a P/E ratio of 173.40, a P/E/G ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total transaction of $268,400.00. Following the sale, the chief operating officer now owns 503,382 shares in the company, valued at approximately $13,510,772.88. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the sale, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. This represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock valued at $907,856 over the last 90 days. Insiders own 16.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. UBS Group increased their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities dropped their price objective on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.95.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.