CarGurus, Inc. (NASDAQ:CARG) Short Interest Update

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 7,330,000 shares, a decline of 20.2% from the March 15th total of 9,190,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 7.0 days. Currently, 8.7% of the company's stock are short sold.

Insider Buying and Selling at CarGurus

In other news, insider Andrea Lee Eldridge sold 22,358 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $494,782.54. Following the transaction, the insider now owns 117,432 shares of the company's stock, valued at approximately $2,598,770.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $521,316.41. Following the completion of the transaction, the general counsel now owns 111,589 shares of the company's stock, valued at $2,469,464.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrea Lee Eldridge sold 22,358 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $494,782.54. Following the sale, the insider now directly owns 117,432 shares in the company, valued at approximately $2,598,770.16. The disclosure for this sale can be found here. Insiders sold a total of 96,125 shares of company stock valued at $2,144,894 in the last ninety days. Corporate insiders own 15.70% of the company's stock.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently bought and sold shares of CARG. Raymond James & Associates boosted its holdings in shares of CarGurus by 12.0% in the 4th quarter. Raymond James & Associates now owns 452,182 shares of the company's stock valued at $10,925,000 after acquiring an additional 48,389 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in CarGurus by 20.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company's stock valued at $48,164,000 after purchasing an additional 336,245 shares during the last quarter. Cullinan Associates Inc. purchased a new stake in CarGurus in the fourth quarter valued at $1,377,000. Nordea Investment Management AB grew its position in CarGurus by 42.0% during the 4th quarter. Nordea Investment Management AB now owns 309,651 shares of the company's stock worth $7,503,000 after purchasing an additional 91,626 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of CarGurus during the 3rd quarter valued at about $1,586,000. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Trading Down 2.3 %

Shares of NASDAQ CARG traded down $0.52 during midday trading on Friday, reaching $22.36. The company had a trading volume of 588,552 shares, compared to its average volume of 1,117,689. The stock has a market cap of $2.40 billion, a P/E ratio of 124.22, a P/E/G ratio of 1.39 and a beta of 1.58. CarGurus has a 1 year low of $15.34 and a 1 year high of $24.64. The business's 50-day simple moving average is $23.07 and its 200 day simple moving average is $21.66.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The company had revenue of $223.12 million during the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The firm's quarterly revenue was down 22.2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Analysts predict that CarGurus will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on CarGurus from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, March 15th. Needham & Company LLC lifted their price objective on shares of CarGurus from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. Finally, Oppenheimer boosted their price objective on shares of CarGurus from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.

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