Cars.com Inc. $CARS Stock Position Lessened by American Century Companies Inc.

American Century Companies Inc. decreased its position in Cars.com Inc. (NYSE:CARS) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,205,811 shares of the company’s stock after selling 58,849 shares during the quarter. American Century Companies Inc. owned about 1.90% of Cars.com worth $13,589,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 4,043 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Cars.com by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 398,000 shares of the company’s stock valued at $4,485,000 after buying an additional 46,562 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Cars.com by 56.4% in the fourth quarter. Ameriprise Financial Inc. now owns 282,874 shares of the company’s stock valued at $4,902,000 after buying an additional 102,015 shares during the period. Deutsche Bank AG lifted its holdings in shares of Cars.com by 46.3% in the fourth quarter. Deutsche Bank AG now owns 59,442 shares of the company’s stock valued at $1,030,000 after buying an additional 18,799 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Cars.com by 59.2% in the first quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock valued at $618,000 after buying an additional 20,376 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CARS. Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a report on Thursday, August 21st. UBS Group cut their price objective on Cars.com from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. raised Cars.com from a “neutral” rating to an “overweight” rating and set a $14.00 target price for the company in a report on Thursday, July 17th. B. Riley reaffirmed a “buy” rating and set a $22.00 target price (up from $21.00) on shares of Cars.com in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Cars.com from a “buy” rating to a “hold” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Cars.com Trading Down 2.3%

Shares of NYSE CARS opened at $12.9690 on Tuesday. Cars.com Inc. has a 12 month low of $9.56 and a 12 month high of $20.47. The company has a market cap of $796.88 million, a price-to-earnings ratio of 20.92 and a beta of 1.76. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $12.41 and a 200-day simple moving average of $12.13.

Cars.com (NYSE:CARS) last announced its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $178.74 million for the quarter, compared to analysts’ expectations of $179.43 million. Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. Sell-side analysts predict that Cars.com Inc. will post 1.19 EPS for the current year.

Insider Transactions at Cars.com

In related news, insider Matthew B. Crawford sold 15,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.77, for a total value of $176,550.00. Following the completion of the sale, the insider directly owned 98,461 shares of the company’s stock, valued at approximately $1,158,885.97. This represents a 13.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.39% of the company’s stock.

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.