Envestnet Asset Management Inc. Purchases 51,933 Shares of Cars.com Inc. (NYSE:CARS)

Envestnet Asset Management Inc. lifted its position in Cars.com Inc. (NYSE:CARS) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 351,438 shares of the company’s stock after purchasing an additional 51,933 shares during the quarter. Envestnet Asset Management Inc. owned about 0.54% of Cars.com worth $6,090,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in Cars.com by 193.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock worth $29,000 after buying an additional 1,079 shares in the last quarter. KBC Group NV lifted its holdings in shares of Cars.com by 68.2% during the 4th quarter. KBC Group NV now owns 3,885 shares of the company’s stock worth $67,000 after acquiring an additional 1,575 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Cars.com by 41.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock worth $89,000 after acquiring an additional 1,516 shares in the last quarter. Principal Securities Inc. increased its stake in Cars.com by 22.1% in the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company’s stock valued at $152,000 after acquiring an additional 1,592 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in Cars.com during the fourth quarter valued at about $156,000. Institutional investors own 89.15% of the company’s stock.

Cars.com Stock Up 0.4 %

Shares of NYSE CARS opened at $11.34 on Tuesday. The company has a market cap of $720.41 million, a price-to-earnings ratio of 19.55 and a beta of 1.92. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average is $12.56 and its 200 day moving average is $15.83. Cars.com Inc. has a 52 week low of $9.87 and a 52 week high of $21.24.

Analysts Set New Price Targets

CARS has been the subject of a number of research reports. DA Davidson cut their price objective on Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research note on Tuesday, March 4th. UBS Group decreased their price target on shares of Cars.com from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cars.com from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cars.com currently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Cars.com 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.