Cubist Systematic Strategies LLC Raises Stock Holdings in Cars.com Inc. $CARS

Key Points

• Cubist Systematic Strategies LLC increased its stake in Cars.com Inc. by 71.3% in the first quarter, owning a total of 102,416 shares valued at approximately $1.15 million.
• The company's latest earnings report showed a miss on EPS, reporting $0.41 compared to the expected $0.45, with revenue slightly down from the previous year.
• Cars.com has received mixed analyst ratings, with Zacks Research upgrading it to a "strong-buy", while UBS Group lowered their price target, reflecting varied expectations for the stock's future performance.

Cubist Systematic Strategies LLC increased its position in Cars.com Inc. (NYSE:CARS - Free Report) by 71.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,416 shares of the company's stock after purchasing an additional 42,641 shares during the period. Cubist Systematic Strategies LLC owned 0.16% of Cars.com worth $1,154,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Cars.com in the fourth quarter worth $61,000. GAMMA Investing LLC boosted its holdings in Cars.com by 624.9% in the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock worth $53,000 after acquiring an additional 4,043 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company's stock worth $61,000 after acquiring an additional 1,010 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Cars.com in the fourth quarter worth $176,000. Finally, iSAM Funds UK Ltd bought a new stake in Cars.com in the fourth quarter worth $181,000. 89.15% of the stock is owned by institutional investors.

Cars.com Trading Down 0.8%

Shares of NYSE:CARS opened at $13.48 on Tuesday. The stock's 50-day simple moving average is $12.78 and its two-hundred day simple moving average is $11.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.82 and a current ratio of 1.82. Cars.com Inc. has a 52-week low of $9.56 and a 52-week high of $20.47. The stock has a market capitalization of $828.09 million, a price-to-earnings ratio of 21.74 and a beta of 1.78.

Cars.com (NYSE:CARS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS 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 company had revenue of $178.74 million during the quarter, compared to the consensus estimate of $179.43 million. During the same period last year, the business earned $0.38 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. Analysts expect that Cars.com Inc. will post 1.19 EPS for the current year.

Insider Activity at Cars.com

In other news, insider Matthew B. Crawford sold 15,000 shares of the firm'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 transaction, the insider owned 98,461 shares of the company's stock, valued at $1,158,885.97. This trade represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CARS. Zacks Research raised Cars.com from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. B. Riley reaffirmed a "buy" rating and set a $22.00 price objective (up from $21.00) on shares of Cars.com in a research report on Friday, August 8th. UBS Group dropped their price objective on Cars.com from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Wall Street Zen cut Cars.com from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Cars.com in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cars.com has an average rating of "Buy" and a consensus target price of $17.30.

Cars.com 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.

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