Public Sector Pension Investment Board Acquires 40,505 Shares of Cars.com Inc. $CARS

Key Points

• The Public Sector Pension Investment Board increased its stake in Cars.com by 27.3%, owning 188,871 shares worth approximately $2.13 million.
• Several institutional investors have significantly increased their holdings in Cars.com, including Sterling Capital Management, which grew its holdings by 813% during the last quarter.
• Cars.com reported a net loss of $0.04 per share against analysts' expectations, with a revenue decline of 0.1% year-over-year.

Public Sector Pension Investment Board boosted its position in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 188,871 shares of the company's stock after purchasing an additional 40,505 shares during the period. Public Sector Pension Investment Board owned 0.30% of Cars.com worth $2,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cars.com by 1.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,974 shares of the company's stock valued at $970,000 after purchasing an additional 587 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cars.com by 22.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company's stock valued at $61,000 after purchasing an additional 1,010 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cars.com by 16.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,838 shares of the company's stock valued at $133,000 after purchasing an additional 1,710 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Cars.com by 7.2% in the 4th quarter. Benjamin Edwards Inc. now owns 26,436 shares of the company's stock valued at $458,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Cars.com by 813.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $37,000 after purchasing an additional 1,878 shares during the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CARS shares. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Cars.com in a research note on Thursday, August 21st. JPMorgan Chase & Co. raised shares of 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. B. Riley reissued 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 lowered shares of Cars.com from a "buy" rating to a "hold" rating in a research report on Friday. Finally, UBS Group cut their target price on shares of Cars.com from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Cars.com has an average rating of "Moderate Buy" and an average price target of $17.30.

Cars.com Price Performance

NYSE CARS traded up $0.20 on Tuesday, reaching $13.13. The company's stock had a trading volume of 817,682 shares, compared to its average volume of 958,702. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.94. The firm has a market cap of $806.40 million, a PE ratio of 21.17 and a beta of 1.76. Cars.com Inc. has a 52 week low of $9.56 and a 52 week high of $20.47. The business has a 50-day moving average price of $12.47 and a 200 day moving average price of $12.14.

Cars.com (NYSE:CARS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The company had revenue of $178.74 million for the quarter, compared to analyst estimates of $179.43 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. Cars.com's revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts expect that Cars.com Inc. will post 1.19 EPS for the current year.

Insider Activity

In related news, insider Matthew B. Crawford sold 15,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.77, for a total value of $176,550.00. Following the completion of the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.12% of the stock is owned by corporate insiders.

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.