Goldman Sachs Group Inc. Lowers Stake in Cars.com Inc. $CARS

Key Points

• Goldman Sachs Group Inc. reduced its stake in Cars.com by 22.2%, selling 92,031 shares and now holding approximately 0.51% of the company's stock worth $3.64 million.
• Several institutional investors increased their holdings significantly, with GAMMA Investing LLC growing its stake by 624.9% in the first quarter.
• Cars.com reported earnings of $0.41 per share for the recent quarter, missing expectations, and experienced a 0.1% decline in revenue year-over-year.

Goldman Sachs Group Inc. decreased its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 322,942 shares of the company's stock after selling 92,031 shares during the period. Goldman Sachs Group Inc. owned 0.51% of Cars.com worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Cars.com by 624.9% in the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock valued at $53,000 after buying an additional 4,043 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Cars.com during the fourth quarter valued at about $61,000. PNC Financial Services Group Inc. raised its holdings in shares of Cars.com by 22.9% in the 1st 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 during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cars.com by 16.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,838 shares of the company's stock worth $133,000 after acquiring an additional 1,710 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Cars.com in the 4th quarter worth about $181,000. Institutional investors and hedge funds own 89.15% of the company's stock.

Cars.com Stock Performance

CARS traded down $0.18 on Friday, hitting $13.41. The company's stock had a trading volume of 1,981,290 shares, compared to its average volume of 640,203. The company's 50 day simple moving average is $12.98 and its 200-day simple moving average is $11.86. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. Cars.com Inc. has a 12 month low of $9.56 and a 12 month high of $20.47. The firm has a market cap of $823.91 million, a P/E ratio of 21.63 and a beta of 1.78.

Cars.com (NYSE:CARS - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.71% and a return on equity of 17.43%. The firm had revenue of $178.74 million during the quarter, compared to the consensus estimate of $179.43 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm's revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that Cars.com Inc. will post 1.19 EPS for the current year.

Insider Buying and Selling

In other Cars.com news, insider Matthew B. Crawford sold 15,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.77, for a total value of $176,550.00. Following the completion of the transaction, the insider directly owned 98,461 shares of the company's stock, valued at $1,158,885.97. This trade represents a 13.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Cars.com from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. upgraded shares of Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 target price on the stock in a report on Thursday, July 17th. B. Riley restated a "buy" rating and issued a $22.00 target price (up previously from $21.00) on shares of Cars.com in a report on Friday, August 8th. UBS Group lowered their target price on shares of Cars.com from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of Cars.com in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cars.com presently has a consensus rating of "Buy" and an average price target of $17.30.

About Cars.com

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.