NJ State Employees Deferred Compensation Plan trimmed its holdings in shares of Cars.com Inc. (NYSE:CARS) by 23.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,300 shares of the company’s stock after selling 4,700 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Cars.com were worth $137,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new position in shares of Cars.com in the 2nd quarter worth $9,266,000. Nuveen Asset Management LLC raised its position in shares of Cars.com by 18.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,696,623 shares of the company’s stock worth $33,457,000 after buying an additional 259,399 shares during the period. FMR LLC raised its position in shares of Cars.com by 26.7% in the 1st quarter. FMR LLC now owns 1,052,622 shares of the company’s stock worth $24,000,000 after buying an additional 222,027 shares during the period. BlackRock Inc. raised its position in shares of Cars.com by 2.8% in the 2nd quarter. BlackRock Inc. now owns 7,800,006 shares of the company’s stock worth $153,816,000 after buying an additional 213,141 shares during the period. Finally, Sapience Investments LLC raised its position in shares of Cars.com by 15.2% in the 2nd quarter. Sapience Investments LLC now owns 1,584,645 shares of the company’s stock worth $31,249,000 after buying an additional 209,015 shares during the period.
Several research analysts have commented on CARS shares. TheStreet lowered Cars.com from a “c” rating to a “d” rating in a research report on Monday, August 5th. B. Riley set a $18.00 price objective on Cars.com and gave the company a “buy” rating in a research report on Friday, September 13th. ValuEngine raised Cars.com from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BTIG Research lowered Cars.com from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $19.00 target price (down from $27.00) on shares of Cars.com in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.31.
Cars.com (NYSE:CARS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. The business had revenue of $152.10 million during the quarter, compared to the consensus estimate of $150.23 million. Cars.com had a return on equity of 6.51% and a net margin of 1.59%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts anticipate that Cars.com Inc. will post 1.1 EPS for the current fiscal year.
In related news, CEO Thomas Alex Vetter bought 11,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $9.58 per share, for a total transaction of $105,380.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.
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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