Mackenzie Financial Corp Acquires 20,376 Shares of Cars.com Inc. (NYSE:CARS)

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 raised its holdings in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 59.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,798 shares of the company's stock after purchasing an additional 20,376 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Cars.com worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. SG Capital Management LLC bought a new position in Cars.com in the 4th quarter worth about $10,908,000. Peregrine Capital Management LLC purchased a new stake in shares of Cars.com in the first quarter worth about $3,273,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Cars.com in the fourth quarter valued at approximately $4,460,000. LPL Financial LLC boosted its position in shares of Cars.com by 109.7% in the first quarter. LPL Financial LLC now owns 412,282 shares of the company's stock valued at $4,646,000 after acquiring an additional 215,651 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in Cars.com during the fourth quarter valued at approximately $2,393,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARS has been the topic of several recent analyst reports. UBS Group lowered their target price on shares of Cars.com from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. raised shares of Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 price target on the stock in a report on Thursday, July 17th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.30.

Cars.com Price Performance

Shares of CARS stock traded down $1.30 during trading on Thursday, hitting $11.83. The company had a trading volume of 2,569,767 shares, compared to its average volume of 680,667. The stock's 50-day moving average is $11.87 and its two-hundred day moving average is $12.64. The stock has a market capitalization of $751.50 million, a price-to-earnings ratio of 17.40 and a beta of 1.76. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 52 week low of $9.56 and a 52 week high of $20.47.

Cars.com (NYSE:CARS - Get Free Report) last posted 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 6.32% and a return on equity of 16.86%. The company had revenue of $178.74 million for the quarter, compared to analysts' expectations of $179.43 million. During the same quarter last year, the business posted $0.38 EPS. The business's quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts predict that Cars.com Inc. will post 1.19 EPS for the current fiscal year.

Insider Transactions at Cars.com

In other news, CEO Thomas Alex Vetter acquired 27,870 shares of the business's stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $10.75 per share, for a total transaction of $299,602.50. Following the acquisition, the chief executive officer owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.39% of the stock is currently owned by company insiders.

Cars.com 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.