LPL Financial LLC Invests $3.41 Million in Cars.com Inc. (NYSE:CARS)

LPL Financial LLC purchased a new stake in shares of Cars.com Inc. (NYSE:CARS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 196,631 shares of the company’s stock, valued at approximately $3,408,000. LPL Financial LLC owned about 0.30% of Cars.com at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners increased its position in shares of Cars.com by 26.0% during the fourth quarter. Boston Partners now owns 3,178,426 shares of the company’s stock valued at $55,021,000 after buying an additional 655,518 shares during the period. Barclays PLC boosted its position in Cars.com by 340.9% in the third quarter. Barclays PLC now owns 108,177 shares of the company’s stock worth $1,813,000 after purchasing an additional 83,642 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Cars.com by 35.9% in the 4th quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock worth $4,939,000 after purchasing an additional 74,133 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Cars.com by 199.0% during the fourth quarter. Teacher Retirement System of Texas now owns 109,714 shares of the company’s stock valued at $1,901,000 after purchasing an additional 73,018 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Cars.com by 2.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,559,142 shares of the company’s stock worth $44,350,000 after purchasing an additional 65,210 shares in the last quarter. 89.15% of the stock is currently owned by institutional investors.

Cars.com Stock Down 0.6 %

NYSE:CARS opened at $11.28 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 company’s 50 day moving average is $13.31 and its two-hundred day moving average is $16.04. Cars.com Inc. has a twelve month low of $9.87 and a twelve month high of $21.24. The company has a market cap of $720.00 million, a PE ratio of 19.44 and a beta of 1.92.

Wall Street Analyst Weigh In

CARS has been the subject of a number of research reports. UBS Group lowered their target price on Cars.com from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target on Cars.com from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Finally, DA Davidson lowered their target price on Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cars.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

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.