Clark Capital Management Group Inc. Raises Stake in CarGurus, Inc. $CARG

Key Points

• Clark Capital Management Group Inc. increased its holdings in CarGurus, Inc. by 4.5%, acquiring an additional 7,302 shares in the first quarter, bringing their total to 170,022 shares valued at approximately $4.95 million.
• Wall Street analysts maintain a mixed outlook on CarGurus, with a consensus rating of "Hold" and a target price of $38.13, following a series of price adjustments from various firms.
• CarGurus reported a strong quarterly performance with earnings per share of $0.57, exceeding expectations, and a revenue of $234.03 million, representing a year-over-year increase of 7%.

Clark Capital Management Group Inc. boosted its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 170,022 shares of the company's stock after acquiring an additional 7,302 shares during the quarter. Clark Capital Management Group Inc. owned about 0.16% of CarGurus worth $4,953,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of CarGurus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after purchasing an additional 93,722 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of CarGurus by 12.7% in the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock worth $234,560,000 after acquiring an additional 906,830 shares during the period. Invesco Ltd. increased its stake in CarGurus by 340.5% in the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after purchasing an additional 1,242,076 shares in the last quarter. Prevatt Capital Ltd raised its holdings in CarGurus by 3.7% during the first quarter. Prevatt Capital Ltd now owns 1,400,000 shares of the company's stock worth $40,782,000 after purchasing an additional 50,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in CarGurus by 547.9% during the first quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock worth $40,734,000 after purchasing an additional 1,182,499 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total transaction of $338,800.00. Following the transaction, the chief operating officer directly owned 461,821 shares in the company, valued at $15,646,495.48. This represents a 2.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $125,378.01. Following the completion of the sale, the chief technology officer owned 216,877 shares of the company's stock, valued at approximately $7,176,459.93. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,538 shares of company stock worth $1,067,077 over the last ninety days. Insiders own 17.20% of the company's stock.

CarGurus Price Performance

CARG stock traded down $0.11 during midday trading on Tuesday, hitting $35.83. The stock had a trading volume of 849,974 shares, compared to its average volume of 1,055,307. The company's 50-day moving average price is $33.30 and its 200 day moving average price is $31.32. The firm has a market cap of $3.56 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 1.71 and a beta of 1.54. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The business had revenue of $234.03 million during the quarter, compared to the consensus estimate of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CARG shares. UBS Group raised their price target on CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Oppenheimer reduced their price target on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. JMP Securities reissued a "market perform" rating and set a $38.00 price objective on shares of CarGurus in a research note on Wednesday, July 2nd. Citigroup cut their price objective on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Finally, Wall Street Zen cut CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $38.46.

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.