SG Americas Securities LLC Buys 8,961 Shares of TrueCar, Inc. (NASDAQ:TRUE)

SG Americas Securities LLC increased its stake in TrueCar, Inc. (NASDAQ:TRUE) by 22.5% during the fourth quarter, Holdings Channel reports. The firm owned 48,874 shares of the technology company’s stock after acquiring an additional 8,961 shares during the period. SG Americas Securities LLC’s holdings in TrueCar were worth $169,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. SkyView Investment Advisors LLC grew its position in TrueCar by 5.5% in the third quarter. SkyView Investment Advisors LLC now owns 127,658 shares of the technology company’s stock valued at $264,000 after acquiring an additional 6,680 shares during the last quarter. Boston Partners grew its position in TrueCar by 20.9% in the third quarter. Boston Partners now owns 184,751 shares of the technology company’s stock valued at $382,000 after acquiring an additional 31,898 shares during the last quarter. Gladius Capital Management LP grew its position in TrueCar by 31.3% in the third quarter. Gladius Capital Management LP now owns 15,367 shares of the technology company’s stock valued at $32,000 after acquiring an additional 3,661 shares during the last quarter. Principal Financial Group Inc. bought a new position in TrueCar in the third quarter valued at about $27,000. Finally, Acadian Asset Management LLC grew its position in TrueCar by 2.6% in the third quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company’s stock valued at $4,374,000 after acquiring an additional 53,889 shares during the last quarter. Institutional investors own 79.44% of the company’s stock.

TrueCar Trading Down 4.2 %

Shares of TRUE stock opened at $2.93 on Monday. The business’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.01. TrueCar, Inc. has a 12 month low of $1.76 and a 12 month high of $4.05. The firm has a market capitalization of $268.31 million, a price-to-earnings ratio of -5.23 and a beta of 1.65.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. TrueCar had a negative return on equity of 24.27% and a negative net margin of 31.36%. The firm had revenue of $41.29 million for the quarter, compared to analyst estimates of $41.50 million. On average, sell-side analysts predict that TrueCar, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $4.50 target price on shares of TrueCar in a research report on Wednesday, February 21st.

Insider Activity

In related news, EVP Jeff Swart sold 15,000 shares of TrueCar stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $3.45, for a total value of $51,750.00. Following the transaction, the executive vice president now directly owns 325,044 shares of the company’s stock, valued at $1,121,401.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.90% of the company’s stock.

TrueCar Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.