Man Group plc Cuts Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Man Group plc cut its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,226 shares of the company's stock after selling 30,667 shares during the quarter. Man Group plc owned 0.21% of CarGurus worth $7,974,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its position in CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares during the last quarter. Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of CarGurus during the fourth quarter worth $49,000. Finally, R Squared Ltd bought a new stake in shares of CarGurus during the fourth quarter worth $77,000. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock worth $907,856 over the last quarter. Insiders own 16.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CARG shares. Needham & Company LLC decreased their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Oppenheimer decreased their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. JMP Securities decreased their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CarGurus currently has an average rating of "Moderate Buy" and an average target price of $36.95.

CarGurus Price Performance

CARG stock opened at $32.03 on Tuesday. The business has a 50-day moving average price of $28.91 and a 200 day moving average price of $33.81. The company has a market capitalization of $3.34 billion, a P/E ratio of 177.95, a PEG ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.

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