TrueCar (NASDAQ:TRUE) Downgraded by StockNews.com to Hold

TrueCar (NASDAQ:TRUE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Separately, Needham & Company LLC reduced their price target on shares of TrueCar from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th.

TrueCar Price Performance

NASDAQ:TRUE opened at $2.90 on Monday. The company’s 50-day moving average is $3.21 and its two-hundred day moving average is $3.10. The firm has a market capitalization of $265.55 million, a price-to-earnings ratio of -7.25 and a beta of 1.71. TrueCar has a 1-year low of $1.76 and a 1-year high of $4.05.

TrueCar (NASDAQ:TRUE) last posted its 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. The company had revenue of $41.29 million for the quarter, compared to analysts’ expectations of $41.50 million. TrueCar had a negative net margin of 22.15% and a negative return on equity of 17.12%. As a group, equities analysts anticipate that TrueCar will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at TrueCar

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $3.45, for a total transaction of $51,750.00. Following the sale, the executive vice president now owns 325,044 shares in the company, valued at approximately $1,121,401.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC raised its holdings in shares of TrueCar by 28.3% in the 4th quarter. Acuitas Investments LLC now owns 1,264,272 shares of the technology company’s stock valued at $4,374,000 after purchasing an additional 279,106 shares in the last quarter. Cannell Capital LLC raised its stake in TrueCar by 2.6% in the third quarter. Cannell Capital LLC now owns 8,441,072 shares of the technology company’s stock valued at $17,473,000 after buying an additional 216,636 shares in the last quarter. Mill Road Capital Management LLC lifted its holdings in TrueCar by 5.3% during the 4th quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock worth $5,964,000 after buying an additional 86,100 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of TrueCar by 2.6% during the 3rd quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company’s stock worth $4,374,000 after acquiring an additional 53,889 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of TrueCar in the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.

TrueCar Company 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.