Mackenzie Financial Corp Has $618,000 Holdings in Cars.com Inc. (NYSE:CARS)

Mackenzie Financial Corp raised its stake in Cars.com Inc. (NYSE:CARS) by 59.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,798 shares of the company’s stock after buying an additional 20,376 shares during the quarter. Mackenzie Financial Corp owned 0.09% of Cars.com worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in Cars.com by 109.7% in the 1st quarter. LPL Financial LLC now owns 412,282 shares of the company’s stock valued at $4,646,000 after buying an additional 215,651 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cars.com by 19.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the company’s stock valued at $200,000 after purchasing an additional 2,922 shares during the last quarter. Cetera Investment Advisers acquired a new position in Cars.com during the first quarter valued at approximately $368,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cars.com in the first quarter valued at approximately $362,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Cars.com during the 1st quarter worth approximately $558,000. Institutional investors own 89.15% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CEO Thomas Alex Vetter acquired 27,870 shares of the business’s stock in a transaction on Friday, May 9th. The stock was purchased at an average cost of $10.75 per share, for a total transaction of $299,602.50. Following the completion of the transaction, the chief executive officer directly owned 844,897 shares of the company’s stock, valued at approximately $9,082,642.75. The trade was a 3.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.39% of the stock is currently owned by corporate insiders.

Cars.com Trading Up 4.4%

Shares of Cars.com stock opened at $13.19 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.65 and a quick ratio of 1.65. The business has a fifty day simple moving average of $11.78 and a two-hundred day simple moving average of $12.68. Cars.com Inc. has a 1 year low of $9.56 and a 1 year high of $20.47. The company has a market capitalization of $837.64 million, a price-to-earnings ratio of 19.39 and a beta of 1.76.

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

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.