Victory Capital Management Inc. Buys 26,276 Shares of Cars.com Inc. (NYSE:CARS)

Victory Capital Management Inc. lifted its stake in shares of Cars.com Inc. (NYSE:CARS) by 130.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,344 shares of the company’s stock after acquiring an additional 26,276 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Cars.com worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CARS. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cars.com during the second quarter valued at $38,000. CWM LLC boosted its position in shares of Cars.com by 253.2% during the 2nd quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after purchasing an additional 1,575 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Cars.com during the 2nd quarter valued at about $180,000. XTX Topco Ltd acquired a new stake in Cars.com during the second quarter worth approximately $207,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Cars.com by 9,934.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,737 shares of the company’s stock worth $212,000 after purchasing an additional 10,630 shares in the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.

Cars.com Stock Performance

Shares of CARS stock opened at $19.70 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $17.05 and a two-hundred day simple moving average of $18.17. Cars.com Inc. has a 12 month low of $15.05 and a 12 month high of $21.24. The firm has a market capitalization of $1.28 billion, a PE ratio of 33.97 and a beta of 2.10.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CARS. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a research report on Wednesday, November 13th. UBS Group lifted their price target on shares of Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, B. Riley reduced their target price on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

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.