Janney Montgomery Scott LLC lessened its stake in shares of CarGurus, Inc. (NASDAQ:CARG – Get Rating) by 23.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 42,090 shares of the company’s stock after selling 13,187 shares during the period. Janney Montgomery Scott LLC’s holdings in CarGurus were worth $596,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of CarGurus by 30.4% in the first quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock worth $599,905,000 after purchasing an additional 3,294,532 shares during the period. Millennium Management LLC grew its holdings in CarGurus by 754.5% during the 2nd quarter. Millennium Management LLC now owns 704,456 shares of the company’s stock valued at $15,139,000 after buying an additional 622,016 shares in the last quarter. Provident Investment Management Inc. raised its position in shares of CarGurus by 40.0% during the second quarter. Provident Investment Management Inc. now owns 1,478,323 shares of the company’s stock valued at $31,769,000 after buying an additional 422,341 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of CarGurus in the second quarter worth $5,300,000. Finally, Voya Investment Management LLC boosted its position in shares of CarGurus by 654.8% during the second quarter. Voya Investment Management LLC now owns 282,380 shares of the company’s stock worth $6,069,000 after acquiring an additional 244,967 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CARG. DA Davidson reduced their price target on shares of CarGurus to $11.50 in a report on Tuesday, November 15th. Royal Bank of Canada reduced their price target on shares of CarGurus from $35.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Needham & Company LLC lowered their price objective on shares of CarGurus from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Jefferies Financial Group lowered their price target on shares of CarGurus from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 6th. Finally, Raymond James decreased their price objective on CarGurus from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.79.
CarGurus Stock Up 2.0 %
CarGurus (NASDAQ:CARG – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. The company had revenue of $426.45 million during the quarter, compared to analyst estimates of $463.18 million. CarGurus had a net margin of 3.76% and a return on equity of 20.56%. Research analysts expect that CarGurus, Inc. will post 0.44 EPS for the current year.
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.
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