Cars.com Inc. $CARS Stake Boosted by Public Sector Pension Investment Board

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 grew its stake 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 Securities & Exchange Commission. The institutional investor owned 188,871 shares of the company's stock after acquiring an additional 40,505 shares during the period. Public Sector Pension Investment Board owned 0.30% of Cars.com worth $2,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CARS. Sterling Capital Management LLC grew its holdings in shares of Cars.com by 813.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $37,000 after acquiring an additional 1,878 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cars.com by 624.9% during the 1st quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock valued at $53,000 after acquiring an additional 4,043 shares in the last quarter. Quarry LP grew its holdings in shares of Cars.com by 184.5% during the 4th quarter. Quarry LP now owns 3,476 shares of the company's stock valued at $60,000 after acquiring an additional 2,254 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cars.com during the 4th quarter valued at $61,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Cars.com by 22.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company's stock valued at $61,000 after acquiring an additional 1,010 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cars.com Stock Down 1.5%

CARS stock opened at $12.0550 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.94. Cars.com Inc. has a 1 year low of $9.56 and a 1 year high of $20.47. The company has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $12.30. The firm has a market cap of $740.66 million, a PE ratio of 19.44 and a beta of 1.76.

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

Insiders Place Their Bets

In other Cars.com news, insider Matthew B. Crawford sold 15,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.77, for a total transaction of $176,550.00. Following the completion of the transaction, the insider owned 98,461 shares of the company's stock, valued at $1,158,885.97. The trade was a 13.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.39% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.