Mackenzie Financial Corp Sells 10,630 Shares of CarGurus, Inc. (NASDAQ:CARG)

Mackenzie Financial Corp reduced its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 14.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 62,753 shares of the company's stock after selling 10,630 shares during the period. Mackenzie Financial Corp owned 0.06% of CarGurus worth $1,828,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Prevatt Capital Ltd boosted its stake in CarGurus by 9.8% in the 4th quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock worth $49,329,000 after purchasing an additional 120,000 shares during the period. Northern Trust Corp lifted its holdings in shares of CarGurus by 5.5% in the fourth quarter. Northern Trust Corp now owns 942,535 shares of the company's stock worth $34,440,000 after buying an additional 49,511 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of CarGurus by 237,430.8% in the first quarter. Bessemer Group Inc. now owns 731,595 shares of the company's stock valued at $21,312,000 after acquiring an additional 731,287 shares during the period. No Street GP LP purchased a new position in CarGurus during the fourth quarter valued at approximately $25,578,000. Finally, JPMorgan Chase & Co. boosted its holdings in CarGurus by 48.7% in the 4th quarter. JPMorgan Chase & Co. now owns 600,530 shares of the company's stock valued at $21,943,000 after purchasing an additional 196,697 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 4,369 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $144,570.21. Following the sale, the chief executive officer directly owned 121,584 shares of the company's stock, valued at $4,023,214.56. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Javier Zamora sold 6,154 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $215,390.00. Following the transaction, the general counsel owned 92,807 shares in the company, valued at approximately $3,248,245. This represents a 6.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,049 shares of company stock valued at $1,616,397. 17.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CARG has been the topic of a number of recent analyst reports. UBS Group increased their price objective on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. JMP Securities reaffirmed a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a research note on Wednesday, July 2nd. Finally, Citigroup cut their price target on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, CarGurus currently has a consensus rating of "Hold" and an average target price of $37.63.

CarGurus Stock Down 0.9%

Shares of CarGurus stock traded down $0.29 during trading on Monday, reaching $31.57. The company's stock had a trading volume of 1,391,149 shares, compared to its average volume of 739,039. CarGurus, Inc. has a 52-week low of $21.65 and a 52-week high of $41.33. The firm's 50-day moving average is $32.77 and its two-hundred day moving average is $32.34. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 90.20, a PEG ratio of 1.56 and a beta of 1.42.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

CarGurus Company 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.