Sei Investments Co. raised its stake in shares of Cars.com Inc. (NYSE:CARS) by 1,277.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 867,726 shares of the company’s stock after acquiring an additional 804,727 shares during the period. Sei Investments Co. owned approximately 1.21% of Cars.com worth $24,636,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in CARS. Nuveen Asset Management LLC purchased a new position in shares of Cars.com in the first quarter valued at approximately $37,403,000. Dimensional Fund Advisors LP boosted its stake in shares of Cars.com by 36.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,109,238 shares of the company’s stock valued at $88,085,000 after purchasing an additional 824,872 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Cars.com by 311.8% in the second quarter. Wells Fargo & Company MN now owns 551,092 shares of the company’s stock valued at $15,645,000 after purchasing an additional 417,266 shares during the period. Rice Hall James & Associates LLC purchased a new position in shares of Cars.com in the second quarter valued at approximately $9,684,000. Finally, Fiduciary Management Inc. WI boosted its stake in shares of Cars.com by 19.3% in the first quarter. Fiduciary Management Inc. WI now owns 1,905,423 shares of the company’s stock valued at $53,981,000 after purchasing an additional 307,643 shares during the period.
Several research analysts have recently commented on the stock. Benchmark reissued a “hold” rating on shares of Cars.com in a research note on Thursday. Barrington Research reissued a “buy” rating on shares of Cars.com in a research note on Monday, August 6th. Zacks Investment Research lowered shares of Cars.com from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. ValuEngine raised shares of Cars.com from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Finally, DA Davidson set a $34.00 price objective on shares of Cars.com and gave the company a “buy” rating in a research note on Wednesday, May 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.13.
In related news, CEO Thomas Alex Vetter acquired 4,000 shares of Cars.com stock in a transaction dated Monday, May 14th. The stock was acquired at an average price of $26.09 per share, for a total transaction of $104,360.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott E. Forbes acquired 4,125 shares of Cars.com stock in a transaction dated Friday, May 25th. The shares were bought at an average price of $24.27 per share, with a total value of $100,113.75. The disclosure for this purchase can be found here. Insiders have bought a total of 16,400 shares of company stock valued at $405,308 in the last 90 days. Insiders own 0.04% of the company’s stock.
Shares of NYSE:CARS opened at $28.00 on Friday. The company has a market cap of $1.95 billion, a PE ratio of 12.28, a P/E/G ratio of 2.52 and a beta of -0.04. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.43. Cars.com Inc. has a twelve month low of $20.94 and a twelve month high of $32.94.
Cars.com (NYSE:CARS) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.39). The company had revenue of $168.50 million for the quarter, compared to analysts’ expectations of $171.75 million. Cars.com had a return on equity of 7.78% and a net margin of 28.90%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. equities research analysts forecast that Cars.com Inc. will post 1.99 EPS for the current year.
Cars.com Company 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.
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