PNC Financial Services Group Inc. bought a new stake in shares of Cars.com Inc (NASDAQ:CARS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 43,762 shares of the company’s stock, valued at approximately $1,166,000. PNC Financial Services Group Inc. owned about 0.06% of Cars.com at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. First Personal Financial Services purchased a new stake in Cars.com during the 2nd quarter valued at $118,000. First Mercantile Trust Co. purchased a new stake in Cars.com during the 2nd quarter valued at $132,000. AT Bancorp purchased a new stake in Cars.com during the 2nd quarter valued at $168,000. Commonwealth Bank of Australia purchased a new stake in Cars.com during the 2nd quarter valued at $170,000. Finally, ING Groep NV purchased a new stake in Cars.com during the 2nd quarter valued at $239,000.
Cars.com Inc (CARS) opened at 28.71 on Friday. The stock has a 50 day moving average price of $26.32 and a 200-day moving average price of $25.88. Cars.com Inc has a 1-year low of $22.95 and a 1-year high of $29.47. The stock has a market capitalization of $2.06 billion and a P/E ratio of 13.50.
Cars.com (NASDAQ:CARS) last released its earnings results on Wednesday, August 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The firm had revenue of $156.62 million for the quarter, compared to the consensus estimate of $157.00 million. During the same period in the prior year, the firm earned $0.59 EPS. The firm’s revenue was up .0% on a year-over-year basis. Equities research analysts expect that Cars.com Inc will post $1.35 EPS for the current year.
A number of equities analysts have recently issued reports on CARS shares. B. Riley started coverage on Cars.com in a research note on Monday, October 2nd. They issued a “buy” rating and a $36.00 price target on the stock. Craig Hallum started coverage on Cars.com in a research note on Thursday, July 20th. They issued a “hold” rating and a $25.00 price target on the stock.
Cars.com Company Profile
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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