CarGurus, Inc. $CARG Holdings Lowered by Bryce Point Capital LLC

by · The Cerbat Gem

Bryce Point Capital LLC trimmed its stake in shares of CarGurus, Inc. (NASDAQ:CARG – Free Report) by 12.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,128 shares of the company’s stock after selling 3,095 shares during the quarter. Bryce Point Capital LLC’s holdings in CarGurus were worth $741,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CARG. Invesco Ltd. lifted its holdings in shares of CarGurus by 340.5% during the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company’s stock valued at $46,808,000 after purchasing an additional 1,242,076 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of CarGurus by 547.9% during the first quarter. American Century Companies Inc. now owns 1,398,341 shares of the company’s stock valued at $40,734,000 after purchasing an additional 1,182,499 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of CarGurus by 12.7% during the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company’s stock valued at $234,560,000 after purchasing an additional 906,830 shares during the last quarter. Boston Partners lifted its stake in CarGurus by 1,641.2% in the 1st quarter. Boston Partners now owns 878,556 shares of the company’s stock worth $25,363,000 after acquiring an additional 828,099 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in CarGurus in the 1st quarter worth about $21,884,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Price Performance

Shares of CARG stock opened at $35.09 on Tuesday. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33. The stock’s 50-day moving average is $35.86 and its two-hundred day moving average is $33.19. The firm has a market cap of $3.48 billion, a P/E ratio of 28.53, a PEG ratio of 1.66 and a beta of 1.50.

CarGurus (NASDAQ:CARG – Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The company had revenue of $234.03 million for the quarter, compared to analyst estimates of $232.29 million. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CARG. Zacks Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Needham & Company LLC increased their price objective on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Oppenheimer reduced their price objective on CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Gordon Haskett began coverage on CarGurus in a research note on Monday, July 14th. They issued a “hold” rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.05.

Get Our Latest Stock Analysis on CarGurus

Insider Activity

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $36.08, for a total value of $360,800.00. Following the transaction, the chief operating officer directly owned 441,821 shares of the company’s stock, valued at $15,940,901.68. This represents a 2.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the transaction, the insider directly owned 54,807 shares in the company, valued at approximately $2,021,282.16. The trade was a 15.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,998 shares of company stock worth $1,078,726. Insiders own 17.20% of the company’s stock.

CarGurus Company Profile

(Free Report)

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.

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