Assetmark Inc. Buys 19,894 Shares of Cars.com Inc. $CARS

Assetmark Inc. boosted its stake in Cars.com Inc. (NYSE:CARS) by 53.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,128 shares of the company’s stock after purchasing an additional 19,894 shares during the period. Assetmark Inc. owned about 0.09% of Cars.com worth $677,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Cars.com by 10.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 923,314 shares of the company’s stock worth $10,406,000 after buying an additional 88,463 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Cars.com by 33.7% during the 2nd quarter. Nordea Investment Management AB now owns 557,299 shares of the company’s stock valued at $6,626,000 after acquiring an additional 140,493 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Cars.com by 16.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 413,769 shares of the company’s stock worth $4,663,000 after acquiring an additional 57,225 shares during the last quarter. LPL Financial LLC increased its holdings in Cars.com by 109.7% in the 1st quarter. LPL Financial LLC now owns 412,282 shares of the company’s stock worth $4,646,000 after purchasing an additional 215,651 shares in the last quarter. Finally, Trexquant Investment LP raised its position in Cars.com by 184.3% in the first quarter. Trexquant Investment LP now owns 405,947 shares of the company’s stock valued at $4,575,000 after purchasing an additional 263,148 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.

Cars.com Stock Up 6.6%

Cars.com stock opened at $11.10 on Friday. 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 Inc. has a 52-week low of $9.56 and a 52-week high of $20.47. The firm has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $11.82. The firm has a market cap of $682.04 million, a price-to-earnings ratio of 17.90 and a beta of 1.74.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CARS shares. Wall Street Zen cut Cars.com from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Zacks Research lowered shares of Cars.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Cars.com in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Cars.com from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Barrington Research reissued an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a research note on Monday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.90.

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.