Envestnet Asset Management Inc. Trims Stock Position in Cars.com Inc. $CARS

Envestnet Asset Management Inc. cut its stake in Cars.com Inc. (NYSE:CARS) by 91.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,467 shares of the company’s stock after selling 363,533 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of Cars.com worth $408,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CARS. PNC Financial Services Group Inc. raised its stake in Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock worth $61,000 after buying an additional 1,010 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Cars.com by 4.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 34,468 shares of the company’s stock worth $408,000 after acquiring an additional 1,466 shares during the period. Inspire Investing LLC grew its holdings in shares of Cars.com by 6.7% during the 2nd quarter. Inspire Investing LLC now owns 32,569 shares of the company’s stock worth $386,000 after acquiring an additional 2,050 shares during the period. CWM LLC raised its position in shares of Cars.com by 119.9% in the 2nd quarter. CWM LLC now owns 4,227 shares of the company’s stock worth $50,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cars.com by 19.7% in the 1st 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 period. Institutional investors own 89.15% of the company’s stock.

Cars.com Stock Performance

Shares of CARS stock opened at $11.73 on Thursday. The company has a market capitalization of $701.61 million, a price-to-earnings ratio of 18.92 and a beta of 1.74. 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 one year low of $9.56 and a one year high of $20.47. The company’s 50-day moving average is $11.39 and its 200 day moving average is $11.81.

Cars.com (NYSE:CARS) last issued its earnings results on Thursday, November 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The firm had revenue of $181.57 million during the quarter, compared to analysts’ expectations of $181.37 million. During the same period last year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Cars.com Inc. will post 1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CARS shares. JPMorgan Chase & Co. upped their price target on Cars.com from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cars.com in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. B. Riley reissued a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of Cars.com in a research note on Friday, August 8th. Finally, Zacks Research cut shares of Cars.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.70.

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.