Millennium Management LLC Trims Stock Position in Cars.com Inc. (NYSE:CARS)

Millennium Management LLC cut its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 59.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,704 shares of the company's stock after selling 86,125 shares during the period. Millennium Management LLC owned 0.09% of Cars.com worth $1,035,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Cars.com by 1.6% during the 4th 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. Boston Partners grew its position in shares of Cars.com by 26.0% during the 4th quarter. Boston Partners now owns 3,178,426 shares of the company's stock valued at $55,021,000 after purchasing an additional 655,518 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 55,143 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cars.com by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 834,851 shares of the company's stock worth $14,468,000 after purchasing an additional 30,368 shares during the period. Finally, Northern Trust Corp raised its position in shares of 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 buying an additional 120,331 shares in the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Cars.com Price Performance

Shares of Cars.com stock traded up $0.20 during trading on Friday, hitting $10.39. 513,685 shares of the stock traded hands, compared to its average volume of 651,952. The stock has a market cap of $659.74 million, a price-to-earnings ratio of 17.91 and a beta of 1.95. The company has a quick ratio of 1.79, a current ratio of 1.79 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 $21.24. The firm's fifty day moving average is $11.01 and its 200-day moving average is $14.54.

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

Insider Activity at Cars.com

In related news, CEO Thomas Alex Vetter purchased 27,870 shares of Cars.com stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $10.75 per share, for a total transaction of $299,602.50. Following the transaction, the chief executive officer now directly owns 844,897 shares in the company, valued at $9,082,642.75. The trade was a 3.41% increase 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. 2.39% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group reduced their target price on Cars.com from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. decreased their price objective on shares of Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Cars.com in a research note on Tuesday, March 4th. Finally, DA Davidson cut their price target on shares of Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, February 28th. Two 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.com, Cars.com currently has a consensus rating of "Moderate Buy" and an average price target of $18.30.

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.