Lord Abbett & CO. LLC increased its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 16.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,769 shares of the company's stock after buying an additional 57,225 shares during the quarter. Lord Abbett & CO. LLC owned about 0.65% of Cars.com worth $4,663,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CARS. Sterling Capital Management LLC grew its position in Cars.com by 813.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock worth $37,000 after buying an additional 1,878 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 4,043 shares in the last quarter. Quarry LP boosted its holdings 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Cars.com in the 4th quarter valued at $61,000. Finally, PNC Financial Services Group Inc. boosted 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 valued at $61,000 after purchasing an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 89.15% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in 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 reaffirmed 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. JPMorgan Chase & Co. raised 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. Finally, UBS Group reduced their target price on Cars.com from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.30.
View Our Latest Stock Analysis on CARS
Cars.com Price Performance
Shares of NYSE CARS traded down $0.6930 during mid-day trading on Tuesday, hitting $12.2370. 676,009 shares of the stock traded hands, compared to its average volume of 930,240. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. Cars.com Inc. has a twelve month low of $9.56 and a twelve month high of $20.47. The company has a market cap of $751.84 million, a PE ratio of 19.74 and a beta of 1.76. The firm has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $12.31.
Cars.com (NYSE:CARS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share 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 for the quarter, compared to analyst estimates of $179.43 million. During the same period last year, the business earned $0.38 EPS. The company's revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Cars.com Inc. will post 1.19 EPS for the current fiscal year.
Insider Transactions at Cars.com
In related news, insider Matthew B. Crawford sold 15,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.77, for a total transaction 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 hyperlink. 2.12% of the stock is currently owned by corporate insiders.
About Cars.com
(
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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