Louisiana State Employees Retirement System Buys Shares of 30,200 Cars.com Inc. (NYSE:CARS)

Louisiana State Employees Retirement System purchased a new position in shares of Cars.com Inc. (NYSE:CARS – Get Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,200 shares of the company’s stock, valued at approximately $347,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA purchased a new stake in shares of Cars.com during the second quarter worth about $48,000. Captrust Financial Advisors grew its holdings in shares of Cars.com by 117.4% during the second quarter. Captrust Financial Advisors now owns 5,392 shares of the company’s stock worth $51,000 after buying an additional 2,912 shares in the last quarter. KBC Group NV purchased a new stake in shares of Cars.com during the second quarter worth about $51,000. Keebeck Alpha LP purchased a new stake in shares of Cars.com during the second quarter worth about $96,000. Finally, MQS Management LLC purchased a new stake in shares of Cars.com during the second quarter worth about $102,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered their price target on shares of Cars.com from $18.00 to $17.50 and set a “buy” rating for the company in a report on Friday, November 4th.

Cars.com Price Performance

Cars.com stock opened at $14.61 on Thursday. Cars.com Inc. has a 1 year low of $8.75 and a 1 year high of $16.98. The firm has a 50 day moving average price of $14.08 and a 200 day moving average price of $12.66. The company has a market cap of $973.17 million, a price-to-earnings ratio of 1,462.46 and a beta of 1.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.45 and a current ratio of 1.45.

Cars.com (NYSE:CARS – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.18). Cars.com had a net margin of 0.15% and a return on equity of 0.26%. The company had revenue of $164.60 million during the quarter, compared to analysts’ expectations of $164.16 million. Sell-side analysts predict that Cars.com Inc. will post 0.28 earnings per share for the current year.

Insider Activity at Cars.com

In related news, Director Thomas E. Hale sold 4,064 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $14.52, for a total value of $59,009.28. Following the completion of the sale, the director now directly owns 76,677 shares in the company, valued at $1,113,350.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Cars.com Company Profile

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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.