Cars.com Inc. (NYSE:CARS) Stake Increased by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Cars.com Inc. (NYSE:CARS) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,963 shares of the company’s stock after buying an additional 1,690 shares during the quarter. Franklin Resources Inc.’s holdings in Cars.com were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CARS. American Century Companies Inc. grew its holdings in shares of Cars.com by 19.4% during the 2nd quarter. American Century Companies Inc. now owns 1,078,757 shares of the company’s stock valued at $21,252,000 after acquiring an additional 175,094 shares in the last quarter. Victory Capital Management Inc. grew its position in Cars.com by 130.9% in the third quarter. Victory Capital Management Inc. now owns 46,344 shares of the company’s stock worth $777,000 after acquiring an additional 26,276 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Cars.com during the 3rd quarter worth $1,222,000. First Eagle Investment Management LLC raised its holdings in shares of Cars.com by 23.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 526,643 shares of the company’s stock valued at $10,375,000 after purchasing an additional 101,000 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Cars.com by 21.0% in the 3rd quarter. Park Avenue Securities LLC now owns 15,496 shares of the company’s stock valued at $260,000 after purchasing an additional 2,694 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, UBS Group boosted their target price on shares of Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th.

Insider Activity at Cars.com

In other news, CFO Sonia Jain sold 24,971 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total value of $492,927.54. Following the completion of the transaction, the chief financial officer now owns 229,229 shares in the company, valued at approximately $4,524,980.46. This represents a 9.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jill A. Greenthal sold 4,524 shares of Cars.com stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total transaction of $89,846.64. Following the sale, the director now owns 101,963 shares in the company, valued at approximately $2,024,985.18. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by corporate insiders.

Cars.com Trading Down 0.4 %

Cars.com stock opened at $17.33 on Wednesday. The business has a 50 day moving average price of $18.07 and a two-hundred day moving average price of $18.00. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 12 month low of $15.05 and a 12 month high of $21.24. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 29.88 and a beta of 2.12.

Cars.com Company Profile

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.