Victory Capital Management Inc. Increases Stock Position in Cars.com Inc. (NYSE:CARS)

Key Points

• Victory Capital Management Inc. substantially increased its stake in Cars.com by 157.7% in Q1, bringing its total ownership to approximately 151,603 shares valued at $1.7 million.
• Several institutional investors showed significant interest in Cars.com, with Sterling Capital Management increasing its holdings by 813% and GAMMA Investing LLC by 624.9%.
• Analysts have varied opinions on Cars.com, with UBS Group reducing their price target to $12, while JPMorgan Chase upgraded it to $14, resulting in a consensus rating of "Moderate Buy" with a target price of $18.30.

Victory Capital Management Inc. boosted its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 157.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 151,603 shares of the company's stock after buying an additional 92,780 shares during the period. Victory Capital Management Inc. owned approximately 0.24% of Cars.com worth $1,709,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in shares of Cars.com by 813.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock worth $37,000 after purchasing an additional 1,878 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Cars.com by 624.9% in the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock valued at $53,000 after acquiring an additional 4,043 shares during the last quarter. Quarry LP boosted its holdings in Cars.com by 184.5% in the fourth quarter. Quarry LP now owns 3,476 shares of the company's stock valued at $60,000 after acquiring an additional 2,254 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Cars.com in the fourth quarter valued at approximately $61,000. Finally, Aquatic Capital Management LLC acquired a new position in Cars.com in the fourth quarter valued at approximately $132,000. 89.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Cars.com Stock Down 2.7%

Shares of NYSE:CARS traded down $0.36 on Wednesday, reaching $12.75. The company had a trading volume of 492,953 shares, compared to its average volume of 647,392. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $810.01 million, a PE ratio of 18.75 and a beta of 1.86. Cars.com Inc. has a 52-week low of $9.56 and a 52-week high of $21.24. The firm's 50 day simple moving average is $11.53 and its 200-day simple moving average is $12.84.

Cars.com (NYSE:CARS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Cars.com had a net margin of 6.32% and a return on equity of 16.86%. The company had revenue of $179.02 million during the quarter, compared to analyst estimates of $179.82 million. During the same period last year, the firm earned $0.43 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts expect that Cars.com Inc. will post 1.19 earnings per share for the current fiscal year.

Insider Activity

In other Cars.com news, CEO Thomas Alex Vetter acquired 27,870 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average cost of $10.75 per share, for a total transaction of $299,602.50. Following the completion of the transaction, the chief executive officer owned 844,897 shares of the company's stock, valued at approximately $9,082,642.75. The trade was a 3.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.39% of the stock is owned by company insiders.

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.