Federated Hermes Inc. Sells 66,023 Shares of Cars.com Inc. (NYSE:CARS)

Key Points

• Federated Hermes Inc. significantly decreased its stake in Cars.com Inc. by 73.7%, owning just 23,610 shares after selling 66,023 shares in the first quarter.
• Cars.com reported $0.41 EPS for the latest quarter, missing estimates, with a small revenue decline of 0.1% year-over-year.
• Institutional investors hold 89.15% of Cars.com stock, with significant increases in holdings from several firms during the fourth quarter.

Federated Hermes Inc. cut its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 73.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,610 shares of the company's stock after selling 66,023 shares during the period. Federated Hermes Inc.'s holdings in Cars.com were worth $266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings 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 acquiring an additional 4,043 shares in the last quarter. Ameriprise Financial Inc. raised its holdings 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 worth $4,902,000 after buying an additional 102,015 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings 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 worth $4,485,000 after buying an additional 46,562 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Cars.com during the 4th quarter worth $4,460,000. Finally, Deutsche Bank AG raised its holdings 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 worth $1,030,000 after buying an additional 18,799 shares in the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.

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 research firms have recently commented on CARS. Wall Street Zen raised Cars.com from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. 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. UBS Group lowered their price target on Cars.com from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 price target for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.30.

Cars.com Price Performance

CARS traded down $0.46 on Thursday, reaching $12.58. The stock had a trading volume of 217,203 shares, compared to its average volume of 794,832. 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 $12.07 and a 200-day moving average of $12.51. 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 $772.61 million, a price-to-earnings ratio of 20.28 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.

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.