Cars.com Inc. (NYSE:CARS) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Cars.com Inc. by 59.2% in the 1st quarter, now owning 54,798 shares valued at approximately $618,000.
• Institutional investors collectively own 89.15% of Cars.com's stock, with LPL Financial LLC notably raising its position by 109.7% to over 412,000 shares.
• Recent analyst ratings show mixed opinions on Cars.com, with JPMorgan upgrading the stock to "overweight" and setting a price target of $14.00, while UBS lowered its target to $12.00.

Mackenzie Financial Corp grew its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 59.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,798 shares of the company's stock after purchasing an additional 20,376 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Cars.com worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Cars.com by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,121,007 shares of the company's stock worth $123,407,000 after acquiring an additional 115,083 shares during the period. Dimensional Fund Advisors LP grew its position in Cars.com by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,172,706 shares of the company's stock worth $54,984,000 after acquiring an additional 55,143 shares during the period. Northern Trust Corp grew its position in Cars.com by 17.6% in the fourth quarter. Northern Trust Corp now owns 804,640 shares of the company's stock worth $13,944,000 after acquiring an additional 120,331 shares during the period. Renaissance Technologies LLC grew its position in Cars.com by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 782,425 shares of the company's stock worth $13,559,000 after acquiring an additional 130,325 shares during the period. Finally, SG Capital Management LLC purchased a new position in Cars.com in the fourth quarter worth approximately $10,908,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CARS shares. B. Riley increased their price objective on Cars.com from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday. UBS Group lowered their price objective on Cars.com from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday. JPMorgan Chase & Co. upgraded Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 price target for the company in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded Cars.com from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.30.

Cars.com Trading Up 5.2%

Shares of CARS traded up $0.62 during midday trading on Friday, hitting $12.39. 1,881,746 shares of the stock were exchanged, compared to its average volume of 768,815. Cars.com Inc. has a 52-week low of $9.56 and a 52-week high of $20.47. The stock has a fifty day simple moving average of $11.92 and a 200 day simple moving average of $12.57. The firm has a market cap of $786.82 million, a P/E ratio of 19.98 and a beta of 1.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.65 and a current ratio of 1.82.

Cars.com (NYSE:CARS - Get Free Report) last released 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 return on equity of 17.43% and a net margin of 5.71%. The firm had revenue of $178.74 million for the quarter, compared to analysts' expectations of $179.43 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company's quarterly revenue was down .1% on a year-over-year basis. On average, research analysts anticipate that Cars.com Inc. will post 1.19 EPS 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.