Walleye Capital LLC acquired a new stake in Cars.com Inc. (NYSE:CARS – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 117,238 shares of the company’s stock, valued at approximately $1,692,000.
Several other hedge funds have also modified their holdings of the stock. Boston Private Wealth LLC acquired a new stake in Cars.com in the fourth quarter valued at $40,231,000. Principal Financial Group Inc. acquired a new stake in Cars.com in the fourth quarter valued at $6,954,000. Public Sector Pension Investment Board acquired a new stake in Cars.com in the fourth quarter valued at $2,129,000. Arrowstreet Capital Limited Partnership acquired a new stake in Cars.com in the first quarter valued at $1,534,000. Finally, American Century Companies Inc. raised its stake in Cars.com by 40.5% in the first quarter. American Century Companies Inc. now owns 346,959 shares of the company’s stock valued at $5,007,000 after buying an additional 99,934 shares in the last quarter. 99.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CARS. DA Davidson cut their price target on Cars.com to $18.00 in a research note on Tuesday, August 9th. BTIG Research raised their price objective on Cars.com to $18.00 in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cars.com has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.
Cars.com Stock Performance
Cars.com (NYSE:CARS – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Cars.com had a return on equity of 1.67% and a net margin of 1.00%. The firm had revenue of $162.87 million for the quarter, compared to analyst estimates of $161.89 million. On average, equities research analysts expect that Cars.com Inc. will post 0.46 earnings per share for the current year.
Cars.com Company 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.
- Get a free copy of the StockNews.com research report on Cars.com (CARS)
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