KLP Kapitalforvaltning AS Sells 3,200 Shares of Cars.com Inc. $CARS

KLP Kapitalforvaltning AS lessened its position in shares of Cars.com Inc. (NYSE:CARS) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,300 shares of the company’s stock after selling 3,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Cars.com were worth $134,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Cars.com by 624.9% during the 1st quarter. GAMMA Investing LLC now owns 4,690 shares of the company’s stock worth $53,000 after purchasing an additional 4,043 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Cars.com by 13.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 398,000 shares of the company’s stock worth $4,485,000 after purchasing an additional 46,562 shares during the last quarter. Mackenzie Financial Corp grew its position in Cars.com by 59.2% during the 1st quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock worth $618,000 after purchasing an additional 20,376 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Cars.com by 71.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 102,416 shares of the company’s stock worth $1,154,000 after purchasing an additional 42,641 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Cars.com by 157.7% during the 1st quarter. Victory Capital Management Inc. now owns 151,603 shares of the company’s stock worth $1,709,000 after purchasing an additional 92,780 shares during the last quarter. Institutional investors own 89.15% of the company’s stock.

Cars.com Stock Performance

Shares of NYSE CARS opened at $10.53 on Wednesday. The company’s fifty day moving average price is $12.41 and its 200 day moving average price is $11.85. 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 $647.02 million, a PE ratio of 16.99 and a beta of 1.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.82 and a current ratio of 1.82.

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

Wall Street Analyst Weigh In

CARS has been the topic of several research analyst reports. B. Riley reissued a “buy” rating and set a $22.00 target price (up previously from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Wall Street Zen raised shares of Cars.com from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. JPMorgan Chase & Co. upped their price objective on shares of Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. UBS Group raised their target price on shares of Cars.com from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of Cars.com in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.90.

Insider Transactions at Cars.com

In related news, insider Matthew B. Crawford sold 15,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.77, for a total transaction of $176,550.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.12% of the company’s stock.

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.