GAMMA Investing LLC lifted its position in Cars.com Inc. (NYSE:CARS - Free Report) by 8,069.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,856 shares of the company's stock after purchasing an additional 52,209 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of Cars.com worth $596,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of Cars.com by 193.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock valued at $29,000 after purchasing an additional 1,079 shares during the period. Sterling Capital Management LLC boosted its position in shares of Cars.com by 813.0% in the 4th 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 period. Quarry LP boosted its position in shares of Cars.com by 184.5% in the 4th 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 period. Point72 Asset Management L.P. acquired a new stake in shares of Cars.com in the 4th quarter valued at about $61,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Cars.com by 41.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company's stock valued at $89,000 after purchasing an additional 1,516 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Cars.com
In related news, CEO Thomas Alex Vetter acquired 27,870 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $10.75 per share, with a total value of $299,602.50. Following the completion of the acquisition, the chief executive officer now owns 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.12% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on CARS. DA Davidson reduced their price objective on Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on Cars.com from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. UBS Group reduced their price objective on Cars.com from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Cars.com in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.30.
Read Our Latest Research Report on CARS
Cars.com Stock Performance
Shares of NYSE:CARS traded up $0.29 during midday trading on Friday, hitting $11.19. The stock had a trading volume of 1,486,518 shares, compared to its average volume of 664,517. The company has a market capitalization of $710.65 million, a PE ratio of 16.45 and a beta of 1.84. The stock has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $13.80. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 1 year low of $9.56 and a 1 year high of $21.24.
Cars.com (NYSE:CARS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The business had revenue of $179.02 million for the quarter, compared to analysts' expectations of $179.82 million. Cars.com had a return on equity of 16.86% and a net margin of 6.32%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $0.43 earnings per share. As a group, equities analysts predict that Cars.com Inc. will post 1.19 earnings per share for the current fiscal year.
Cars.com Profile
(
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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