Envestnet Asset Management Inc. Grows Stock Holdings in Cars.com Inc. (NYSE:CARS)

Key Points

• Envestnet Asset Management Inc. increased its stake in Cars.com by 13.2%, owning about 398,000 shares worth $4.48 million as of its latest SEC filing.
• Analysts have mixed views on Cars.com, with JPMorgan Chase upgrading the stock to "overweight" with a price target of $14.00, while UBS Group lowered its price target to $12.00.
• Cars.com reported a quarterly revenue of $179.02 million, falling short of expectations, and delivered earnings per share of $0.37, which was below the consensus estimate of $0.39.

Envestnet Asset Management Inc. grew its holdings in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 398,000 shares of the company's stock after purchasing an additional 46,562 shares during the period. Envestnet Asset Management Inc. owned approximately 0.63% of Cars.com worth $4,485,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of Cars.com by 813.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $37,000 after purchasing an additional 1,878 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $53,000 after purchasing an additional 4,043 shares during the last quarter. Quarry LP lifted its holdings in shares of Cars.com by 184.5% during the fourth quarter. Quarry LP now owns 3,476 shares of the company's stock valued at $60,000 after purchasing an additional 2,254 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cars.com during the fourth quarter valued at approximately $61,000. Finally, Aquatic Capital Management LLC purchased a new position in Cars.com in the 4th quarter worth approximately $132,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARS has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Cars.com from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. upgraded shares of Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 price objective for the company in a report on Thursday, July 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.30.

Cars.com Price Performance

Shares of NYSE:CARS opened at $13.43 on Friday. Cars.com Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $21.24. The business has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $12.92. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $852.89 million, a price-to-earnings ratio of 19.74 and a beta of 1.86.

Cars.com (NYSE:CARS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The company had revenue of $179.02 million for the quarter, compared to analysts' expectations of $179.82 million. Cars.com had a net margin of 6.32% and a return on equity of 16.86%. Cars.com's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, analysts expect that Cars.com Inc. will post 1.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Thomas Alex Vetter bought 27,870 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $299,602.50. Following the purchase, the chief executive officer owned 844,897 shares in the company, valued at approximately $9,082,642.75. This represents a 3.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.39% of the company's stock.

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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