TrueCar's (TRUE) "Hold" Rating Reiterated at Needham & Company LLC

Key Points

• TrueCar's stock has a "hold" rating from Needham & Company, while Weiss Ratings has given it a "sell (d-)" rating, reflecting mixed analyst sentiments.
• The stock's current trading price is $1.82, with a 12-month low of $1.05 and a high of $4.62, demonstrating volatility in its performance.
• Institutional investors own 79.44% of TrueCar's shares, with several increasing their stakes during recent quarters.

TrueCar (NASDAQ:TRUE - Get Free Report)'s stock had its "hold" rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of TrueCar in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $3.19.

TrueCar Trading Up 2.8%

Shares of NASDAQ:TRUE opened at $1.82 on Tuesday. TrueCar has a 12-month low of $1.05 and a 12-month high of $4.62. The stock has a fifty day simple moving average of $2.02 and a two-hundred day simple moving average of $1.76. The stock has a market capitalization of $160.96 million, a price-to-earnings ratio of -5.35 and a beta of 2.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRUE. Millennium Management LLC purchased a new stake in TrueCar during the 4th quarter valued at approximately $420,000. OneDigital Investment Advisors LLC increased its stake in TrueCar by 10.2% during the first quarter. OneDigital Investment Advisors LLC now owns 153,569 shares of the technology company's stock worth $243,000 after acquiring an additional 14,155 shares during the last quarter. XTX Topco Ltd lifted its position in TrueCar by 92.5% in the first quarter. XTX Topco Ltd now owns 70,044 shares of the technology company's stock worth $111,000 after buying an additional 33,652 shares during the last quarter. Nuveen LLC purchased a new stake in TrueCar in the 1st quarter worth about $399,000. Finally, Russell Investments Group Ltd. grew its stake in shares of TrueCar by 8.0% during the first quarter. Russell Investments Group Ltd. now owns 747,593 shares of the technology company's stock valued at $1,181,000 after buying an additional 55,088 shares during the last quarter. Institutional investors own 79.44% of the company's stock.

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.

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