Mackenzie Financial Corp Takes $597,000 Position in Cars.com Inc. (NYSE:CARS)

Mackenzie Financial Corp acquired a new stake in Cars.com Inc. (NYSE:CARS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 34,422 shares of the company's stock, valued at approximately $597,000. Mackenzie Financial Corp owned approximately 0.05% of Cars.com at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in Cars.com by 193.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock worth $29,000 after acquiring an additional 1,079 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Cars.com by 813.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock worth $37,000 after acquiring an additional 1,878 shares during the last quarter. Quarry LP raised its holdings in Cars.com by 184.5% during the 4th quarter. Quarry LP now owns 3,476 shares of the company's stock worth $60,000 after buying an additional 2,254 shares during the period. Point72 Asset Management L.P. acquired a new stake in Cars.com during the 4th quarter worth approximately $61,000. Finally, KBC Group NV raised its holdings in Cars.com by 68.2% during the 4th quarter. KBC Group NV now owns 3,885 shares of the company's stock worth $67,000 after buying an additional 1,575 shares during the period. Institutional investors own 89.15% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. DA Davidson dropped their target price on shares of Cars.com from $21.00 to $14.50 and set a "buy" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. UBS Group lowered their price objective on shares of Cars.com from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cars.com in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Cars.com has an average rating of "Moderate Buy" and a consensus target price of $18.30.

Insiders Place Their Bets

In related news, CEO Thomas Alex Vetter acquired 27,870 shares of the company's stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of $10.75 per share, with a total value of $299,602.50. Following the completion of the transaction, the chief executive officer now directly owns 844,897 shares of the company's stock, valued at $9,082,642.75. This trade represents a 3.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.39% of the company's stock.

Cars.com Stock Up 1.9%

Shares of NYSE:CARS traded up $0.20 during midday trading on Friday, hitting $10.39. The stock had a trading volume of 513,685 shares, compared to its average volume of 651,952. Cars.com Inc. has a 12 month low of $9.56 and a 12 month high of $21.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The business's 50-day simple moving average is $10.99 and its 200-day simple moving average is $14.49. The company has a market cap of $659.74 million, a P/E ratio of 17.91 and a beta of 1.95.

Cars.com (NYSE:CARS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Cars.com had a net margin of 5.46% and a return on equity of 9.99%. The firm had revenue of $179.02 million during the quarter, compared to the consensus estimate of $179.82 million. During the same period in the prior year, the business posted $0.43 earnings per share. Cars.com's quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts forecast that Cars.com Inc. will post 1.19 earnings per share for the current fiscal 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.