Peregrine Capital Management LLC Boosts Stake in Cars.com Inc. $CARS

by · The Markets Daily

Peregrine Capital Management LLC raised its holdings in Cars.com Inc. (NYSE:CARS – Free Report) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 321,989 shares of the company’s stock after acquiring an additional 31,548 shares during the period. Peregrine Capital Management LLC’s holdings in Cars.com were worth $3,816,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CARS. Trexquant Investment LP raised its holdings in Cars.com by 184.3% in the 1st quarter. Trexquant Investment LP now owns 405,947 shares of the company’s stock valued at $4,575,000 after acquiring an additional 263,148 shares during the last quarter. Nuveen LLC acquired a new position in Cars.com in the 1st quarter valued at $2,832,000. LPL Financial LLC raised its holdings in Cars.com by 109.7% in the 1st quarter. LPL Financial LLC now owns 412,282 shares of the company’s stock valued at $4,646,000 after acquiring an additional 215,651 shares during the last quarter. Nordea Investment Management AB raised its holdings in Cars.com by 33.7% in the 2nd quarter. Nordea Investment Management AB now owns 557,299 shares of the company’s stock valued at $6,626,000 after acquiring an additional 140,493 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Cars.com by 157.7% in the 1st quarter. Victory Capital Management Inc. now owns 151,603 shares of the company’s stock valued at $1,709,000 after acquiring an additional 92,780 shares during the last quarter. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cars.com

In related news, insider Matthew B. Crawford sold 15,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.77, for a total value of $176,550.00. Following the completion of the sale, the insider directly owned 98,461 shares in the company, valued at approximately $1,158,885.97. This represents a 13.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CARS shares. Wall Street Zen downgraded Cars.com from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. boosted their price target on Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Zacks Research downgraded Cars.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a report on Thursday, August 21st. Finally, B. Riley restated a “buy” rating and set a $22.00 price objective (up from $21.00) on shares of Cars.com in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.90.

Read Our Latest Report on CARS

Cars.com Trading Down 2.3%

CARS stock opened at $11.00 on Wednesday. The company has a market cap of $675.53 million, a price-to-earnings ratio of 17.73 and a beta of 1.76. 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 $12.25 and a 200-day simple moving average of $11.85. Cars.com Inc. has a 52 week low of $9.56 and a 52 week high of $20.47.

Cars.com (NYSE:CARS – Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The firm had revenue of $178.74 million for the quarter, compared to analyst estimates of $179.43 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that Cars.com Inc. will post 1.19 EPS for the current year.

Cars.com 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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