Magnetar Financial LLC bought a new position in shares of Cars.com Inc. (NYSE:CARS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 28,848 shares of the company's stock, valued at approximately $325,000.
Several other hedge funds have also recently bought and sold shares of the stock. Trexquant Investment LP raised its holdings in Cars.com by 184.3% during the 1st quarter. Trexquant Investment LP now owns 405,947 shares of the company's stock worth $4,575,000 after buying an additional 263,148 shares during the period. Martingale Asset Management L P acquired a new stake in Cars.com during the 1st quarter worth approximately $499,000. EntryPoint Capital LLC raised its holdings in Cars.com by 67.0% during the 1st quarter. EntryPoint Capital LLC now owns 24,823 shares of the company's stock worth $280,000 after buying an additional 9,961 shares during the period. Fox Run Management L.L.C. acquired a new stake in Cars.com during the 1st quarter worth approximately $375,000. Finally, Lord Abbett & CO. LLC raised its holdings in Cars.com by 16.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 413,769 shares of the company's stock worth $4,663,000 after buying an additional 57,225 shares during the period. 89.15% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CARS has been the topic of a number of recent research reports. UBS Group lowered their price objective 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. B. Riley reiterated a "buy" rating and issued a $22.00 price objective (up from $21.00) on shares of Cars.com in a report on Friday, August 8th. Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cars.com in a report on Thursday, August 21st. JPMorgan Chase & Co. upgraded shares of Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 price objective on the stock in a report on Thursday, July 17th. Finally, Zacks Research raised shares of Cars.com from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Cars.com presently has a consensus rating of "Buy" and a consensus price target of $17.30.
Check Out Our Latest Research Report on Cars.com
Insider Buying and Selling
In related news, insider Matthew B. Crawford sold 15,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.77, for a total value of $176,550.00. Following the completion of the transaction, the insider owned 98,461 shares of the company's stock, valued at $1,158,885.97. The trade was a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.39% of the stock is currently owned by company insiders.
Cars.com Stock Performance
CARS stock traded down $0.04 during midday trading on Friday, reaching $13.59. 531,053 shares of the company were exchanged, compared to its average volume of 797,960. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. The business has a 50-day moving average price of $12.75 and a two-hundred day moving average price of $11.94. Cars.com Inc. has a one year low of $9.56 and a one year high of $20.47. The firm has a market capitalization of $835.15 million, a price-to-earnings ratio of 21.92 and a beta of 1.78.
Cars.com (NYSE:CARS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The company had revenue of $178.74 million for the quarter, compared to the consensus estimate of $179.43 million. Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. Equities research analysts forecast that Cars.com Inc. will post 1.19 EPS for the current year.
Cars.com Company Profile
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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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