Assetmark Inc. Reduces Position in Cars.com Inc. (NYSE:CARS)

Assetmark Inc. decreased its position in shares of Cars.com Inc. (NYSE:CARS) by 41.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,234 shares of the company’s stock after selling 26,875 shares during the quarter. Assetmark Inc. owned approximately 0.06% of Cars.com worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CARS. Sterling Capital Management LLC lifted its stake in Cars.com by 813.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company’s stock worth $37,000 after acquiring an additional 1,878 shares in the last quarter. GAMMA Investing LLC lifted its position in Cars.com by 624.9% in the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company’s stock valued at $53,000 after acquiring an additional 4,043 shares during the last quarter. Quarry LP boosted its holdings in shares of Cars.com by 184.5% in the fourth quarter. Quarry LP now owns 3,476 shares of the company’s stock valued at $60,000 after acquiring an additional 2,254 shares during the period. Point72 Asset Management L.P. acquired a new position in Cars.com in the 4th quarter valued at about $61,000. Finally, Aquatic Capital Management LLC acquired a new position in Cars.com in the 4th quarter valued at $132,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas Alex Vetter bought 27,870 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $10.75 per share, with a total value of $299,602.50. Following the completion of the transaction, the chief executive officer directly owned 844,897 shares in the company, valued at $9,082,642.75. This represents a 3.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.39% of the company’s stock.

Cars.com Stock Down 3.5%

CARS stock opened at $12.43 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $789.36 million, a price-to-earnings ratio of 18.27 and a beta of 1.76. The firm’s 50-day moving average is $11.68 and its two-hundred day moving average is $12.78. Cars.com Inc. has a 52 week low of $9.56 and a 52 week high of $20.47.

Cars.com (NYSE:CARS) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $179.02 million for the quarter, compared to analyst estimates of $179.82 million. Cars.com had a return on equity of 16.86% and a net margin of 6.32%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, analysts forecast that Cars.com Inc. will post 1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Cars.com from a “neutral” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Thursday, July 17th. UBS Group dropped their price objective on shares of Cars.com from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

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.