Seizert Capital Partners LLC Takes $1.77 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Seizert Capital Partners LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 73,205 shares of the company's stock, valued at approximately $1,769,000. Seizert Capital Partners LLC owned 0.07% of CarGurus at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of CarGurus in the 3rd quarter worth $32,000. GAMMA Investing LLC acquired a new stake in CarGurus in the fourth quarter valued at about $32,000. PNC Financial Services Group Inc. boosted its holdings in CarGurus by 298.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company's stock valued at $52,000 after purchasing an additional 2,210 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in CarGurus during the 4th quarter worth approximately $65,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in CarGurus during the 3rd quarter worth approximately $107,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CarGurus

In related news, General Counsel Javier Esquivel Zamora sold 23,557 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 $521,316.41. Following the sale, the general counsel now owns 111,589 shares of the company's stock, valued at $2,469,464.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $521,316.41. Following the transaction, the general counsel now directly owns 111,589 shares in the company, valued at $2,469,464.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 17,668 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares in the company, valued at $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold a total of 113,793 shares of company stock valued at $2,523,342 over the last quarter. Insiders own 15.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CARG. Royal Bank of Canada lifted their price target on CarGurus from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday. Oppenheimer upped their price target 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. JMP Securities reiterated a "market perform" rating on shares of CarGurus in a research note on Wednesday, April 17th. Needham & Company LLC upped their target price on shares of CarGurus from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $27.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.36.

CarGurus Stock Up 8.7 %

Shares of CarGurus stock traded up $1.94 during trading on Friday, hitting $24.22. 1,955,920 shares of the company were exchanged, compared to its average volume of 713,974. The firm has a 50 day moving average price of $22.80 and a 200 day moving average price of $22.35. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 86.50, a P/E/G ratio of 1.35 and a beta of 1.57. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $24.76.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 8.44% and a net margin of 4.04%. The business's revenue was down 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 earnings per share. Analysts predict that CarGurus, Inc. will post 0.94 earnings per share for the current year.

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.

Want to see what other hedge funds are holding CARG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarGurus, Inc. (NASDAQ:CARG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.