Hill Path Capital LP purchased a new position in shares of Cars.com Inc. (NYSE:CARS – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,013,032 shares of the company’s stock, valued at approximately $23,854,000. Cars.com makes up about 1.2% of Hill Path Capital LP’s investment portfolio, making the stock its 7th largest position. Hill Path Capital LP owned 3.28% of Cars.com at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its position in Cars.com by 119.9% during the 2nd quarter. CWM LLC now owns 4,227 shares of the company’s stock worth $50,000 after buying an additional 2,305 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Cars.com by 22.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock worth $61,000 after acquiring an additional 1,010 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Cars.com by 30.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock valued at $83,000 after acquiring an additional 1,623 shares during the period. AXA S.A. acquired a new stake in shares of Cars.com during the 2nd quarter valued at about $126,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Cars.com in the 2nd quarter valued at about $132,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
Cars.com Trading Down 1.2%
CARS opened at $12.77 on Friday. Cars.com Inc. has a 52 week low of $9.56 and a 52 week high of $19.00. The firm has a market cap of $763.87 million, a P/E ratio of 27.76 and a beta of 1.45. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $11.30 and a 200-day simple moving average of $11.93.
Cars.com (NYSE:CARS – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $181.57 million for the quarter, compared to analyst estimates of $181.37 million. Cars.com had a return on equity of 18.32% and a net margin of 4.16%.The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. On average, equities analysts expect that Cars.com Inc. will post 1.19 earnings per share for the current year.
Insider Activity
In other news, insider Matthew B. Crawford sold 27,358 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $12.03, for a total transaction of $329,116.74. Following the transaction, the insider directly owned 71,103 shares in the company, valued at approximately $855,369.09. This trade represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.39% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CARS shares. DA Davidson reaffirmed a “buy” rating and set a $13.50 target price on shares of Cars.com in a research note on Tuesday, November 18th. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a research note on Monday, November 3rd. UBS Group lifted their target price on shares of Cars.com from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cars.com from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.70.
Get Our Latest Research Report on CARS
Cars.com Company Profile
(Free Report)
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.
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Want to see what other hedge funds are holding CARS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cars.com Inc. (NYSE:CARS – Free Report).
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