Acuitas Investments LLC Purchases 279,106 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Acuitas Investments LLC increased its position in shares of TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,264,272 shares of the technology company's stock after buying an additional 279,106 shares during the period. TrueCar comprises approximately 2.2% of Acuitas Investments LLC's holdings, making the stock its 7th biggest holding. Acuitas Investments LLC owned about 1.39% of TrueCar worth $4,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in shares of TrueCar in the 3rd quarter worth about $27,000. Gladius Capital Management LP increased its position in shares of TrueCar by 31.3% in the 3rd quarter. Gladius Capital Management LP now owns 15,367 shares of the technology company's stock worth $32,000 after purchasing an additional 3,661 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of TrueCar by 269.8% in the 4th quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company's stock worth $96,000 after purchasing an additional 20,254 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of TrueCar in the 3rd quarter worth about $83,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of TrueCar by 84.1% in the 4th quarter. Mackenzie Financial Corp now owns 55,911 shares of the technology company's stock valued at $193,000 after buying an additional 25,537 shares during the period. Hedge funds and other institutional investors own 79.44% of the company's stock.

TrueCar Stock Performance

Shares of NASDAQ TRUE traded down $0.11 during midday trading on Thursday, hitting $2.80. The company's stock had a trading volume of 226,394 shares, compared to its average volume of 210,675. TrueCar, Inc. has a 1-year low of $1.76 and a 1-year high of $4.05. The firm's fifty day moving average price is $3.34 and its 200-day moving average price is $3.05. The firm has a market cap of $256.40 million, a P/E ratio of -5.20 and a beta of 1.65.

TrueCar (NASDAQ:TRUE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $41.29 million during the quarter, compared to analyst estimates of $41.50 million. TrueCar had a negative net margin of 31.36% and a negative return on equity of 24.27%. As a group, research analysts predict that TrueCar, Inc. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $4.50 price target on shares of TrueCar in a report on Wednesday, February 21st.

Insider Buying and Selling at TrueCar

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $3.45, for a total transaction of $51,750.00. Following the completion of the transaction, the executive vice president now directly owns 325,044 shares of the company's stock, valued at approximately $1,121,401.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently owned by company insiders.

TrueCar Company Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.