CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in CarGurus, Inc. (NASDAQ:CARG) by 3,844.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,229 shares of the company’s stock after purchasing an additional 119,130 shares during the quarter. GAMMA Investing LLC owned 0.12% of CarGurus worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARG. Vanguard Group Inc. boosted its stake in shares of CarGurus by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company’s stock valued at $353,959,000 after buying an additional 225,430 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock worth $261,091,000 after purchasing an additional 802,602 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after purchasing an additional 957,035 shares in the last quarter. Prevatt Capital Ltd grew its stake in shares of CarGurus by 9.8% during the 4th quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company’s stock worth $49,329,000 after purchasing an additional 120,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock valued at $39,237,000 after purchasing an additional 30,593 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CARG shares. UBS Group boosted their price objective on shares of CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Oppenheimer lowered their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities reduced their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.95.

CarGurus Price Performance

CarGurus stock opened at $32.65 on Thursday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 181.40, a P/E/G ratio of 1.72 and a beta of 1.44. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm’s 50-day moving average is $29.59 and its two-hundred day moving average is $33.46.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. CarGurus’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. As a group, analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other CarGurus news, insider Ismail Elshareef sold 5,246 shares of CarGurus stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $164,567.02. Following the transaction, the insider now owns 107,007 shares in the company, valued at $3,356,809.59. This trade represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Javier Esquivel Zamora sold 12,265 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total transaction of $384,753.05. Following the sale, the general counsel now directly owns 102,723 shares of the company’s stock, valued at $3,222,420.51. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,335 shares of company stock worth $1,457,176. 16.99% of the stock is owned by company insiders.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.