GAMMA Investing LLC Buys New Position in CarGurus, Inc. (NASDAQ:CARG)

GAMMA Investing LLC bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,356 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CARG. Exchange Traded Concepts LLC bought a new position in shares of CarGurus during the third quarter valued at approximately $30,000. Acadian Asset Management LLC bought a new position in shares of CarGurus during the third quarter valued at approximately $32,000. PNC Financial Services Group Inc. raised its holdings in shares of CarGurus by 298.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company’s stock valued at $52,000 after acquiring an additional 2,210 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of CarGurus during the fourth quarter valued at approximately $65,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of CarGurus during the third quarter valued at approximately $107,000. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CARG has been the subject of a number of recent analyst reports. UBS Group upped their target price on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Needham & Company LLC upped their price target on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. Finally, Oppenheimer upped their price target on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.90.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $521,316.41. Following the transaction, the general counsel now owns 111,589 shares of the company’s stock, valued at $2,469,464.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Andrea Lee Eldridge sold 22,358 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the transaction, the insider now owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Javier Esquivel Zamora sold 23,557 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $521,316.41. Following the completion of the transaction, the general counsel now directly owns 111,589 shares in the company, valued at approximately $2,469,464.57. The disclosure for this sale can be found here. Insiders have sold 113,793 shares of company stock valued at $2,523,342 over the last ninety days. Insiders own 15.70% of the company’s stock.

CarGurus Trading Down 0.7 %

NASDAQ CARG opened at $22.75 on Monday. CarGurus, Inc. has a 12 month low of $15.34 and a 12 month high of $24.64. The stock has a market cap of $2.44 billion, a P/E ratio of 126.39, a P/E/G ratio of 1.38 and a beta of 1.57. The stock’s fifty day moving average price is $22.80 and its 200-day moving average price is $22.21.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Monday, February 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. During the same period last year, the firm posted $0.25 earnings per share. CarGurus’s revenue was down 22.2% compared to the same quarter last year. As a group, analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current fiscal year.

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.