GAMMA Investing LLC Raises Position in Cars.com Inc. (NYSE:CARS)

GAMMA Investing LLC lifted its stake in Cars.com Inc. (NYSE:CARS) by 8,069.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,856 shares of the company’s stock after buying an additional 52,209 shares during the period. GAMMA Investing LLC owned approximately 0.08% of Cars.com worth $596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CARS. Boston Partners boosted its position in shares of Cars.com by 26.0% in the fourth quarter. Boston Partners now owns 3,178,426 shares of the company’s stock worth $55,021,000 after buying an additional 655,518 shares during the period. SG Capital Management LLC purchased a new stake in shares of Cars.com in the fourth quarter worth about $10,908,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Cars.com by 609.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 442,889 shares of the company’s stock worth $7,675,000 after buying an additional 380,439 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Cars.com in the fourth quarter worth about $4,460,000. Finally, Villanova Investment Management Co LLC purchased a new stake in shares of Cars.com in the fourth quarter worth about $3,890,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARS shares. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Tuesday, March 4th. UBS Group reduced their price target on Cars.com from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on Cars.com from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, DA Davidson reduced their price target 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cars.com has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Insiders Place Their Bets

In related news, CEO Thomas Alex Vetter purchased 27,870 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of $10.75 per share, with a total value of $299,602.50. Following the acquisition, the chief executive officer now owns 844,897 shares in the company, valued at approximately $9,082,642.75. This trade represents a 3.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.39% of the stock is currently owned by company insiders.

Cars.com Trading Up 6.6%

Shares of CARS opened at $10.92 on Thursday. The company has a market capitalization of $693.43 million, a P/E ratio of 16.05 and a beta of 1.83. Cars.com Inc. has a one year low of $9.56 and a one year high of $21.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a 50-day moving average price of $10.90 and a 200 day moving average price of $14.00.

Cars.com (NYSE:CARS) last released its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Cars.com had a return on equity of 16.86% and a net margin of 6.32%. The firm had revenue of $179.02 million for the quarter, compared to the consensus estimate of $179.82 million. During the same period in the prior year, the business earned $0.43 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that Cars.com Inc. will post 1.19 EPS for the current fiscal year.

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.