Teachers Retirement System of The State of Kentucky Has $5.32 Million Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Teachers Retirement System of The State of Kentucky increased its stake in shares of CarGurus, Inc. (NASDAQ:CARGGet Rating) by 2.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 125,208 shares of the company’s stock after buying an additional 2,880 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CarGurus were worth $5,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in CarGurus by 1.6% during the 1st quarter. Arizona State Retirement System now owns 21,989 shares of the company’s stock valued at $934,000 after purchasing an additional 343 shares during the period. Meritage Portfolio Management lifted its position in CarGurus by 10.3% during the 1st quarter. Meritage Portfolio Management now owns 6,900 shares of the company’s stock valued at $293,000 after purchasing an additional 642 shares during the period. Advisor Group Holdings Inc. lifted its position in CarGurus by 35.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,566 shares of the company’s stock valued at $120,000 after purchasing an additional 938 shares during the period. Teacher Retirement System of Texas lifted its position in CarGurus by 6.3% during the 1st quarter. Teacher Retirement System of Texas now owns 16,403 shares of the company’s stock valued at $696,000 after purchasing an additional 975 shares during the period. Finally, Virtu Financial LLC lifted its position in CarGurus by 17.7% during the 1st quarter. Virtu Financial LLC now owns 7,257 shares of the company’s stock valued at $308,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BTIG Research lowered their price target on CarGurus to $30.00 in a research note on Monday, August 15th. Oppenheimer lowered their price target on CarGurus from $32.00 to $23.00 in a research note on Friday, September 9th. Truist Financial lowered their price target on CarGurus from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Royal Bank of Canada lowered their price target on CarGurus from $45.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. Finally, Raymond James lowered their price target on CarGurus from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $34.18.

CarGurus Stock Down 2.1 %

Shares of CARG opened at $16.23 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of -15.31, a P/E/G ratio of 4.11 and a beta of 1.61. CarGurus, Inc. has a twelve month low of $15.91 and a twelve month high of $50.03. The company has a 50 day moving average of $21.10 and a 200-day moving average of $28.24.

CarGurus (NASDAQ:CARGGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $511.20 million during the quarter, compared to analysts’ expectations of $507.31 million. CarGurus had a negative net margin of 0.90% and a positive return on equity of 20.37%. The business’s quarterly revenue was up 134.7% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, sell-side analysts anticipate that CarGurus, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Samuel Zales sold 17,707 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $25.02, for a total value of $443,029.14. Following the completion of the sale, the chief operating officer now owns 392,587 shares of the company’s stock, valued at approximately $9,822,526.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 14.80% of the stock is currently owned by insiders.

About CarGurus

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CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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