Cars.com Inc. (NYSE:CARS) Position Reduced by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Cars.com by 70.2%, selling 1,795,582 shares, leaving it with approximately 763,560 shares worth $8.6 million.
• Cars.com's CEO, Thomas Alex Vetter, purchased 27,870 shares for about $299,602, increasing his ownership stake by 3.41%.
• Analysts have mixed ratings on Cars.com, with a consensus target price of $18.30, indicating a potential for growth despite a recent price target reduction by UBS from $13.00 to $12.00.

Pacer Advisors Inc. lessened its position in Cars.com Inc. (NYSE:CARS - Free Report) by 70.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 763,560 shares of the company's stock after selling 1,795,582 shares during the quarter. Pacer Advisors Inc. owned approximately 1.20% of Cars.com worth $8,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 purchasing an additional 115,083 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cars.com by 1.8% during the 4th 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 in the last quarter. Northern Trust Corp boosted its position in shares of Cars.com by 17.6% in the 4th quarter. Northern Trust Corp now owns 804,640 shares of the company's stock valued at $13,944,000 after purchasing an additional 120,331 shares during the period. Renaissance Technologies LLC boosted its position in shares of Cars.com by 20.0% in the 4th quarter. Renaissance Technologies LLC now owns 782,425 shares of the company's stock valued at $13,559,000 after purchasing an additional 130,325 shares during the period. Finally, SG Capital Management LLC acquired a new stake in shares of Cars.com in the 4th quarter valued at about $10,908,000. Hedge funds and other institutional investors own 89.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CARS. UBS Group reduced their price objective on Cars.com from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. raised Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 target price for the company in a research note on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cars.com currently has a consensus rating of "Moderate Buy" and an average target price of $18.30.

Cars.com Price Performance

Shares of CARS traded up $0.13 on Thursday, reaching $12.89. The stock had a trading volume of 149,914 shares, compared to its average volume of 773,035. The firm has a market capitalization of $818.58 million, a PE ratio of 18.94 and a beta of 1.86. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average of $11.58 and a 200 day moving average of $12.84. Cars.com Inc. has a twelve month low of $9.56 and a twelve month high of $21.24.

Cars.com (NYSE:CARS - Get Free Report) last announced its 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 company had revenue of $179.02 million for the quarter, compared to analyst estimates of $179.82 million. Cars.com had a net margin of 6.32% and a return on equity of 16.86%. Cars.com's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. Sell-side analysts expect that Cars.com Inc. will post 1.19 EPS for the current year.

Insider Buying and Selling

In other news, CEO Thomas Alex Vetter bought 27,870 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $10.75 per share, with a total value of $299,602.50. Following the transaction, the chief executive officer owned 844,897 shares of the company's stock, valued at $9,082,642.75. This represents a 3.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.39% of the company's stock.

About Cars.com

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.