Versor Investments LP Sells 30,000 Shares of Cars.com Inc. $CARS

Key Points

• Versor Investments LP has reduced its stake in Cars.com Inc. by 69.2%, owning 13,327 shares after selling 30,000 during the first quarter, with holdings valued at $150,000.
• Wells Fargo & Company and other institutional investors have increased their positions in Cars.com, reflecting a trend where 89.15% of the stock is now owned by hedge funds and institutional investors.
• Cars.com reported earnings of $0.41 per share, missing analysts' estimates, with revenues down 0.1% year-over-year, raising concerns about future performance despite mixed analyst ratings.

Versor Investments LP decreased its holdings in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 69.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,327 shares of the company's stock after selling 30,000 shares during the quarter. Versor Investments LP's holdings in Cars.com were worth $150,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Cars.com by 1.8% during 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 position in Cars.com by 10.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 923,314 shares of the company's stock worth $10,406,000 after buying an additional 88,463 shares during the period. Northern Trust Corp lifted its holdings in shares of Cars.com by 17.6% during 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. SG Capital Management LLC bought a new stake in shares of Cars.com in the fourth quarter valued at about $10,908,000. Finally, Lord Abbett & CO. LLC grew its stake in shares of Cars.com by 16.0% in the first quarter. Lord Abbett & CO. LLC now owns 413,769 shares of the company's stock valued at $4,663,000 after acquiring an additional 57,225 shares in the last quarter. Institutional investors own 89.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARS. UBS Group lowered their price target on shares of Cars.com from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. raised shares of Cars.com from a "neutral" rating to an "overweight" rating and set a $14.00 target price on the stock in a report on Thursday, July 17th. Zacks Research upgraded Cars.com from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. B. Riley reissued a "buy" rating and set a $22.00 price target (up previously from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Cars.com in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Cars.com currently has a consensus rating of "Buy" and a consensus price target of $17.30.

Insider Activity at Cars.com

In other news, insider Matthew B. Crawford sold 15,000 shares of the stock in a transaction dated Friday, August 8th. The shares were 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 approximately $1,158,885.97. This represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.39% of the company's stock.

Cars.com Price Performance

NYSE CARS traded up $0.08 on Thursday, hitting $13.25. 109,891 shares of the company's stock were exchanged, compared to its average volume of 795,600. The stock has a 50-day moving average of $12.51 and a 200-day moving average of $12.15. The stock has a market cap of $813.77 million, a price-to-earnings ratio of 21.29 and a beta of 1.76. Cars.com Inc. has a 52 week low of $9.56 and a 52 week high of $20.47. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.94.

Cars.com (NYSE:CARS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The business had revenue of $178.74 million for the quarter, compared to analyst estimates of $179.43 million. During the same period last year, the firm posted $0.38 EPS. Cars.com's quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Cars.com Inc. will post 1.19 earnings per share for the current year.

Cars.com 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.