Peregrine Capital Management LLC Makes New $3.27 Million Investment in Cars.com Inc. (NYSE:CARS)

Peregrine Capital Management LLC bought a new position in shares of Cars.com Inc. (NYSE:CARS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 290,441 shares of the company's stock, valued at approximately $3,273,000. Peregrine Capital Management LLC owned 0.46% of Cars.com as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in shares of Cars.com by 0.9% during the fourth quarter. Principal Financial Group Inc. now owns 289,182 shares of the company's stock valued at $5,012,000 after buying an additional 2,522 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Cars.com by 193.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock valued at $29,000 after acquiring an additional 1,079 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cars.com by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 834,851 shares of the company's stock valued at $14,468,000 after acquiring an additional 30,368 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Cars.com by 26.9% in the fourth quarter. Victory Capital Management Inc. now owns 58,823 shares of the company's stock valued at $1,019,000 after acquiring an additional 12,479 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in Cars.com by 17.8% in the fourth quarter. Assetmark Inc. now owns 64,109 shares of the company's stock worth $1,111,000 after purchasing an additional 9,699 shares during the last quarter. Institutional investors own 89.15% of the company's stock.

Cars.com Stock Performance

Cars.com stock traded down $0.19 during mid-day trading on Thursday, reaching $12.15. 268,692 shares of the company traded hands, compared to its average volume of 675,544. The firm's fifty day moving average is $10.97 and its two-hundred day moving average is $13.48. The company has a market capitalization of $771.64 million, a price-to-earnings ratio of 17.86 and a beta of 1.86. Cars.com Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $21.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.65 and a quick ratio of 1.65.

Cars.com (NYSE:CARS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share 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 analysts' expectations 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 period last year, the firm earned $0.43 earnings per share. On average, equities research analysts expect that Cars.com Inc. will post 1.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Thomas Alex Vetter bought 27,870 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $10.75 per share, with a total value of $299,602.50. Following the completion of the acquisition, the chief executive officer directly owned 844,897 shares of the company's stock, valued at $9,082,642.75. This trade represents a 3.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CARS. UBS Group decreased their price objective on Cars.com from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.