Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cars.com Inc. (NYSE:CARS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 40,275 shares of the company's stock, valued at approximately $454,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Cars.com at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Cars.com by 624.9% in the 1st quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock valued at $53,000 after purchasing an additional 4,043 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Cars.com by 13.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 398,000 shares of the company's stock valued at $4,485,000 after acquiring an additional 46,562 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Cars.com by 56.4% during the 4th quarter. Ameriprise Financial Inc. now owns 282,874 shares of the company's stock valued at $4,902,000 after acquiring an additional 102,015 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in shares of Cars.com during the 4th quarter valued at $4,460,000. Finally, Deutsche Bank AG lifted its position in shares of Cars.com by 46.3% during the 4th quarter. Deutsche Bank AG now owns 59,442 shares of the company's stock valued at $1,030,000 after acquiring an additional 18,799 shares during the period. 89.15% of the stock is currently owned by institutional investors.
Insider Activity at Cars.com
In other Cars.com news, insider Matthew B. Crawford sold 15,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was 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 in the company, valued at approximately $1,158,885.97. The trade was a 13.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.39% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on CARS shares. UBS Group cut their target price on Cars.com from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded Cars.com from a "buy" rating to a "hold" rating in a research report on Friday. JPMorgan Chase & Co. upgraded 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 price target (up previously from $21.00) on shares of Cars.com in a report on Friday, August 8th. Finally, Barrington Research reissued an "outperform" rating and set a $25.00 price target on shares of Cars.com in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.30.
Check Out Our Latest Report on Cars.com
Cars.com Price Performance
CARS traded down $0.3010 on Monday, reaching $12.9690. The stock had a trading volume of 801,411 shares, compared to its average volume of 937,713. Cars.com Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $20.47. The firm has a 50-day moving average of $12.41 and a 200-day moving average of $12.13. 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 company has a market capitalization of $796.88 million, a price-to-earnings ratio of 20.92 and a beta of 1.76.
Cars.com (NYSE:CARS - Get Free Report) last issued 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 firm had revenue of $178.74 million during the quarter, compared to analyst estimates of $179.43 million. During the same period in the previous year, the company earned $0.38 EPS. Cars.com's revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Cars.com Inc. will post 1.19 EPS for the current year.
About Cars.com
(
Free Report)
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.
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