Northern Trust Corp Buys 120,331 Shares of Cars.com Inc. (NYSE:CARS)

Northern Trust Corp raised its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 804,640 shares of the company's stock after acquiring an additional 120,331 shares during the period. Northern Trust Corp owned about 1.24% of Cars.com worth $13,944,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new stake in Cars.com in the fourth quarter valued at $2,393,000. Quarry LP grew its position 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 period. Aquatic Capital Management LLC bought a new stake in shares of Cars.com during the fourth quarter worth $132,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cars.com during the fourth quarter worth $209,000. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of Cars.com during the fourth quarter worth $4,460,000. 89.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Thomas Alex Vetter bought 27,870 shares of the business's stock in a transaction on Friday, May 9th. The shares were purchased at an average price of $10.75 per share, with a total value of $299,602.50. Following the completion of the purchase, the chief executive officer now owns 844,897 shares of the company's stock, valued at $9,082,642.75. This represents a 3.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.12% of the stock is currently owned by insiders.

Cars.com Trading Down 3.0%

Shares of CARS opened at $10.84 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 12-month low of $9.56 and a 12-month high of $21.24. The firm has a market capitalization of $688.64 million, a PE ratio of 18.69 and a beta of 1.95. The stock's fifty day simple moving average is $11.40 and its 200-day simple moving average is $15.29.

Cars.com (NYSE:CARS - Get Free Report) last issued its quarterly earnings results 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 5.46% and a return on equity of 9.99%. The firm had revenue of $179.02 million for the quarter, compared to analyst estimates of $179.82 million. During the same period last year, the company earned $0.43 EPS. The company's revenue was down .7% compared to the same quarter last year. As a group, research analysts predict that Cars.com Inc. will post 1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

CARS has been the topic of several research analyst reports. UBS Group decreased their target price on Cars.com from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their target price on Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. DA Davidson decreased their target price on Cars.com from $21.00 to $14.50 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Barrington Research restated an "outperform" rating and set a $25.00 target price on shares of Cars.com in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.30.

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.

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