Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Cars.com Inc. (NYSE:CARS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Cars.com Inc. (NYSE:CARS) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,943 shares of the company’s stock after selling 2,221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cars.com were worth $321,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CARS. Louisiana State Employees Retirement System purchased a new position in Cars.com during the fourth quarter worth about $584,000. Kendall Capital Management lifted its holdings in shares of Cars.com by 51.2% during the 4th quarter. Kendall Capital Management now owns 42,505 shares of the company’s stock worth $806,000 after acquiring an additional 14,385 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Cars.com by 16.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,556 shares of the company’s stock worth $447,000 after acquiring an additional 3,400 shares in the last quarter. Ritholtz Wealth Management increased its stake in Cars.com by 12.0% in the fourth quarter. Ritholtz Wealth Management now owns 86,384 shares of the company’s stock valued at $1,639,000 after acquiring an additional 9,261 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Cars.com by 118.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,652 shares of the company’s stock valued at $31,000 after purchasing an additional 896 shares in the last quarter. Institutional investors own 89.15% of the company’s stock.

Cars.com Price Performance

CARS stock opened at $17.09 on Friday. The firm has a market cap of $1.13 billion, a P/E ratio of 9.88 and a beta of 2.05. The firm’s fifty day moving average is $17.19 and its 200 day moving average is $17.83. Cars.com Inc. has a 52 week low of $14.82 and a 52 week high of $22.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.22.

Cars.com (NYSE:CARS) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The business had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $178.40 million. Cars.com had a net margin of 17.19% and a return on equity of 25.78%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. Research analysts predict that Cars.com Inc. will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Douglas Neal Miller sold 1,823 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $18.50, for a total transaction of $33,725.50. Following the completion of the sale, the insider now owns 181,596 shares of the company’s stock, valued at $3,359,526. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Thomas Alex Vetter sold 17,666 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $19.00, for a total value of $335,654.00. Following the sale, the chief executive officer now directly owns 568,885 shares of the company’s stock, valued at $10,808,815. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Neal Miller sold 1,823 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $18.50, for a total value of $33,725.50. Following the transaction, the insider now owns 181,596 shares in the company, valued at approximately $3,359,526. The disclosure for this sale can be found here. Insiders have sold a total of 34,488 shares of company stock worth $654,361 in the last ninety days. 2.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

About Cars.com

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.