Nuveen LLC acquired a new position in Cars.com Inc. (NYSE:CARS – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 251,285 shares of the company’s stock, valued at approximately $2,832,000. Nuveen LLC owned about 0.40% of Cars.com as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CARS. Invesco Ltd. raised its holdings in shares of Cars.com by 14.2% during the first quarter. Invesco Ltd. now owns 213,603 shares of the company’s stock worth $2,407,000 after purchasing an additional 26,572 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cars.com during the first quarter valued at approximately $454,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cars.com by 10.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 923,314 shares of the company’s stock valued at $10,406,000 after purchasing an additional 88,463 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock valued at $61,000 after buying an additional 1,010 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Cars.com by 59.2% in the first quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock valued at $618,000 after buying an additional 20,376 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
Cars.com Stock Performance
Cars.com stock opened at $13.09 on Friday. The firm has a 50 day simple moving average of $12.56 and a 200-day simple moving average of $12.12. Cars.com Inc. has a 1-year low of $9.56 and a 1-year high of $20.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $804.44 million, a price-to-earnings ratio of 21.12 and a beta of 1.76.
Cars.com (NYSE:CARS – Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $178.74 million for the quarter, compared to analysts’ expectations of $179.43 million. Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, analysts expect that Cars.com Inc. will post 1.19 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Cars.com from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Zacks Research raised shares of Cars.com from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group cut their target price on shares of Cars.com from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. upgraded Cars.com from a “neutral” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cars.com currently has an average rating of “Buy” and an average price target of $17.30.
Read Our Latest Stock Analysis on CARS
Insider Buying and Selling at Cars.com
In related news, insider Matthew B. Crawford sold 15,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.77, for a total transaction of $176,550.00. Following the completion of the transaction, the insider owned 98,461 shares of the company’s stock, valued at approximately $1,158,885.97. This trade represents a 13.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.39% of the company’s stock.
About Cars.com
(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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