Comerica Bank decreased its position in shares of Cars.com Inc. (NYSE:CARS) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,683 shares of the company’s stock after selling 4,198 shares during the quarter. Comerica Bank owned approximately 0.05% of Cars.com worth $727,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Texas Permanent School Fund boosted its position in Cars.com by 2.0% during the first quarter. Texas Permanent School Fund now owns 42,099 shares of the company’s stock valued at $960,000 after purchasing an additional 819 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Cars.com by 7.4% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,000 shares of the company’s stock valued at $316,000 after buying an additional 1,100 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Cars.com by 0.5% in the first quarter. Rhumbline Advisers now owns 209,353 shares of the company’s stock worth $4,773,000 after purchasing an additional 1,126 shares during the last quarter. S. Muoio & CO. LLC raised its stake in shares of Cars.com by 4.9% in the first quarter. S. Muoio & CO. LLC now owns 43,083 shares of the company’s stock worth $982,000 after purchasing an additional 1,999 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Cars.com by 2.3% in the first quarter. First Trust Advisors LP now owns 99,581 shares of the company’s stock worth $2,270,000 after purchasing an additional 2,205 shares during the last quarter.
Several research analysts have recently issued reports on the company. Citigroup restated a “buy” rating and issued a $19.00 price objective (down from $27.00) on shares of Cars.com in a research note on Tuesday, August 6th. DA Davidson lowered Cars.com from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. BTIG Research lowered Cars.com from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Zacks Investment Research lowered Cars.com from a “hold” rating to a “strong sell” rating in a report on Monday, August 12th. Finally, B. Riley dropped their price objective on Cars.com from $31.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.31.
In related news, Director Jr. Donald A. Mcgovern acquired 10,448 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $9.16 per share, with a total value of $95,703.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Alex Vetter acquired 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $10.19 per share, for a total transaction of $203,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 58,948 shares of company stock worth $575,784. Insiders own 0.04% of the company’s stock.
NYSE:CARS traded up $0.94 on Friday, reaching $10.94. The company’s stock had a trading volume of 7,223,594 shares, compared to its average volume of 1,365,367. Cars.com Inc. has a 12-month low of $8.23 and a 12-month high of $28.50. The firm has a market cap of $618.72 million, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $11.58 and a 200 day moving average price of $19.21.
Cars.com (NYSE:CARS) last released its quarterly earnings data on Monday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.08). The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $160.18 million. Cars.com had a return on equity of 6.51% and a net margin of 1.59%. The company’s revenue was down 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. Equities research analysts expect that Cars.com Inc. will post 1.34 EPS for the current fiscal year.
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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