CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in CarGurus, Inc. (NASDAQ:CARG) by 11.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,897 shares of the company’s stock after selling 6,066 shares during the period. Mackenzie Financial Corp’s holdings in CarGurus were worth $1,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CARG. Pacer Advisors Inc. boosted its holdings in shares of CarGurus by 20.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock valued at $48,164,000 after buying an additional 336,245 shares during the period. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of CarGurus in the 3rd quarter valued at about $5,015,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of CarGurus by 207.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock valued at $7,097,000 after buying an additional 198,321 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of CarGurus by 6.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,825,275 shares of the company’s stock valued at $49,499,000 after buying an additional 182,028 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of CarGurus by 20.0% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 860,455 shares of the company’s stock valued at $15,075,000 after buying an additional 143,210 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CARG. Needham & Company LLC lifted their price target on shares of CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Oppenheimer boosted their target price on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. Finally, UBS Group boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.90.

CarGurus Trading Down 0.6 %

CARG stock opened at $23.34 on Thursday. CarGurus, Inc. has a 52 week low of $15.34 and a 52 week high of $24.64. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 129.67, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58. The firm’s 50-day moving average is $22.87 and its two-hundred day moving average is $21.92.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The company had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. During the same period in the previous year, the firm earned $0.25 EPS. CarGurus’s revenue was down 22.2% on a year-over-year basis. On average, equities research analysts predict that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the sale, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $11,756,259.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the sale, the chief marketing officer now directly owns 163,798 shares in the company, valued at approximately $3,773,905.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now owns 548,845 shares in the company, valued at $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold 113,793 shares of company stock worth $2,523,342 in the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.