Renaissance Technologies LLC Has $13.56 Million Stock Holdings in Cars.com Inc. (NYSE:CARS)

Renaissance Technologies LLC grew its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 782,425 shares of the company's stock after acquiring an additional 130,325 shares during the quarter. Renaissance Technologies LLC owned about 1.21% of Cars.com worth $13,559,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Cars.com by 0.4% during the fourth quarter. JPMorgan Chase & Co. now owns 236,850 shares of the company's stock worth $4,105,000 after purchasing an additional 827 shares during the period. BNP Paribas Financial Markets increased its stake in Cars.com by 8.0% in the third quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company's stock valued at $244,000 after acquiring an additional 1,075 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Cars.com by 193.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock valued at $29,000 after purchasing an additional 1,079 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Cars.com by 41.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company's stock worth $89,000 after purchasing an additional 1,516 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Cars.com by 68.2% in the 4th quarter. KBC Group NV now owns 3,885 shares of the company's stock valued at $67,000 after purchasing an additional 1,575 shares during the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. 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 research report on Thursday, March 27th. UBS Group dropped their target price on Cars.com from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Barrington Research restated an "outperform" rating and set a $25.00 price target on shares of Cars.com in a report on Tuesday, March 4th. Finally, DA Davidson dropped their price objective on shares of Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.50.

Cars.com Trading Up 1.3 %

CARS traded up $0.15 during midday trading on Friday, hitting $11.30. 500,355 shares of the company were exchanged, compared to its average volume of 610,538. Cars.com Inc. has a 1-year low of $9.87 and a 1-year high of $21.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $717.55 million, a P/E ratio of 19.47 and a beta of 1.92. The firm's 50 day moving average price is $12.69 and its 200-day moving average price is $15.86.

About Cars.com

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.