American Century Companies Inc. Sells 58,849 Shares of Cars.com Inc. $CARS

Key Points

• American Century Companies Inc. reduced its stake in Cars.com by 4.7%, owning approximately 1.90% of the company valued at $13.59 million after selling 58,849 shares in the first quarter.
• Several institutional investors increased their holdings in Cars.com, with GAMMA Investing LLC significantly raising its stake by 624.9% in the same period.
• Cars.com reported missed earnings expectations for the quarter, with an EPS of $0.41, below the consensus estimate of $0.45, alongside a slight revenue decline of 0.1% year-over-year.

American Century Companies Inc. reduced its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,205,811 shares of the company's stock after selling 58,849 shares during the quarter. American Century Companies Inc. owned approximately 1.90% of Cars.com worth $13,589,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CARS. GAMMA Investing LLC boosted its holdings in shares of Cars.com by 624.9% during the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock worth $53,000 after purchasing an additional 4,043 shares during the period. Quarry LP grew its position in Cars.com by 184.5% in the fourth quarter. Quarry LP now owns 3,476 shares of the company's stock worth $60,000 after acquiring an additional 2,254 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Cars.com during the 4th quarter valued at $61,000. PNC Financial Services Group Inc. raised 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 purchasing an additional 1,010 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Cars.com during the 4th quarter valued at $132,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cars.com

In other news, insider Matthew B. Crawford sold 15,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.77, for a total value of $176,550.00. Following the sale, the insider owned 98,461 shares of the company's stock, valued at approximately $1,158,885.97. This represents a 13.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.39% of the company's stock.

Cars.com Stock Performance

Cars.com stock traded down $0.08 on Thursday, hitting $13.09. The company's stock had a trading volume of 619,575 shares, compared to its average volume of 960,221. The firm has a market cap of $804.37 million, a P/E ratio of 21.12 and a beta of 1.76. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $12.56 and a 200-day moving average price of $12.12. Cars.com Inc. has a one year low of $9.56 and a one year high of $20.47.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of Cars.com from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Wall Street Zen cut shares of Cars.com from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. upgraded 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 note on Thursday, July 17th. B. Riley reiterated a "buy" rating and set a $22.00 target price (up from $21.00) on shares of Cars.com in a research note on Friday, August 8th. Finally, Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of Cars.com in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Cars.com currently has a consensus rating of "Buy" and an average price target 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.