QRG Capital Management Inc. Increases Position in CarGurus, Inc. $CARG

QRG Capital Management Inc. lifted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,116 shares of the company’s stock after buying an additional 332 shares during the period. QRG Capital Management Inc.’s holdings in CarGurus were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its stake in shares of CarGurus by 220.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 244,016 shares of the company’s stock worth $8,167,000 after buying an additional 167,921 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of CarGurus by 6.8% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,002,696 shares of the company’s stock worth $33,560,000 after buying an additional 64,087 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of CarGurus by 3.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 50,374 shares of the company’s stock worth $1,685,000 after buying an additional 1,641 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of CarGurus by 121.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after buying an additional 779 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in CarGurus in the second quarter valued at approximately $354,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $36.08, for a total value of $360,800.00. Following the transaction, the chief operating officer owned 441,821 shares of the company’s stock, valued at approximately $15,940,901.68. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of the company’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $33.84, for a total transaction of $58,644.72. Following the completion of the transaction, the chief executive officer directly owned 117,045 shares in the company, valued at approximately $3,960,802.80. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,731 shares of company stock valued at $1,126,971. 16.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on CARG. Oppenheimer dropped their price objective on CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. JMP Securities reiterated a “market perform” rating and issued a $38.00 price objective on shares of CarGurus in a research note on Wednesday, July 2nd. UBS Group upped their price objective on CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Citigroup dropped their price objective on CarGurus from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, July 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $39.00 price objective on shares of CarGurus in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.79.

CarGurus Price Performance

Shares of CARG stock opened at $33.50 on Friday. The company’s fifty day simple moving average is $34.74 and its two-hundred day simple moving average is $32.23. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $41.33. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.59 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $234.03 million for the quarter, compared to analysts’ expectations of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. Equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

About CarGurus

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.