Los Angeles Capital Management LLC Has $1.16 Million Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Los Angeles Capital Management LLC lessened its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,894 shares of the company’s stock after selling 7,400 shares during the period. Los Angeles Capital Management LLC’s holdings in CarGurus were worth $1,157,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. M&T Bank Corp lifted its holdings in CarGurus by 0.8% during the 3rd quarter. M&T Bank Corp now owns 104,052 shares of the company’s stock worth $1,823,000 after buying an additional 850 shares during the period. GAMMA Investing LLC bought a new stake in CarGurus in the fourth quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CarGurus by 10.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock valued at $437,000 after acquiring an additional 1,653 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in CarGurus during the 3rd quarter valued at approximately $32,000. Finally, PNC Financial Services Group Inc. raised its holdings in CarGurus by 298.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company’s stock worth $52,000 after purchasing an additional 2,210 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at approximately $11,756,259.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $521,316.41. Following the completion of the transaction, the general counsel now directly owns 111,589 shares of the company’s stock, valued at $2,469,464.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the completion of the sale, the chief operating officer now owns 548,845 shares in the company, valued at $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold 113,793 shares of company stock worth $2,523,342 in the last quarter. Insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CARG. JMP Securities reiterated a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. Needham & Company LLC increased their price target on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Oppenheimer boosted their price objective on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, UBS Group raised their target price on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.90.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $22.15 on Thursday. CarGurus, Inc. has a 52-week low of $16.02 and a 52-week high of $24.64. The business’s 50 day simple moving average is $22.77 and its two-hundred day simple moving average is $22.28. The firm has a market cap of $2.38 billion, a P/E ratio of 123.06, a PEG ratio of 1.38 and a beta of 1.57.

CarGurus (NASDAQ:CARG) last issued its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. During the same period last year, the business earned $0.25 EPS. CarGurus’s quarterly revenue was down 22.2% compared to the same quarter last year. On average, equities analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current fiscal year.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.