CarGurus, Inc. (NASDAQ:CARG) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,103 shares of the company’s stock after buying an additional 2,260 shares during the period. Illinois Municipal Retirement Fund’s holdings in CarGurus were worth $1,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CARG. Raymond James & Associates raised its stake in CarGurus by 12.0% during the 4th quarter. Raymond James & Associates now owns 452,182 shares of the company’s stock valued at $10,925,000 after acquiring an additional 48,389 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CarGurus by 207.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock valued at $7,097,000 after purchasing an additional 198,321 shares during the period. Pacer Advisors Inc. raised its stake in shares of CarGurus by 20.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock worth $48,164,000 after purchasing an additional 336,245 shares during the last quarter. Cullinan Associates Inc. acquired a new stake in shares of CarGurus during the fourth quarter worth $1,377,000. Finally, Nordea Investment Management AB grew its position in CarGurus by 42.0% in the 4th quarter. Nordea Investment Management AB now owns 309,651 shares of the company’s stock valued at $7,503,000 after buying an additional 91,626 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

CARG opened at $23.22 on Friday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 129.00, a PEG ratio of 1.39 and a beta of 1.58. CarGurus, Inc. has a one year low of $15.34 and a one year high of $24.64. The business’s fifty day moving average is $22.86 and its two-hundred day moving average is $22.01.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The firm’s revenue was down 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. On average, analysts predict that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JMP Securities restated a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. Needham & Company LLC increased their target price on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Oppenheimer lifted their price target on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, UBS Group increased their price objective on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.90.

Insider Transactions at CarGurus

In related news, CMO Dafna Sarnoff sold 10,573 shares of CarGurus stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $22.56, for a total transaction of $238,526.88. Following the completion of the transaction, the chief marketing officer now directly owns 168,099 shares in the company, valued at approximately $3,792,313.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Javier Esquivel Zamora sold 23,557 shares of CarGurus stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $521,316.41. Following the completion of the sale, the general counsel now directly owns 111,589 shares in the company, valued at $2,469,464.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Dafna Sarnoff sold 10,573 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $22.56, for a total transaction of $238,526.88. Following the completion of the transaction, the chief marketing officer now directly owns 168,099 shares of the company’s stock, valued at approximately $3,792,313.44. The disclosure for this sale can be found here. Insiders sold a total of 113,793 shares of company stock valued at $2,523,342 in the last ninety days. Corporate insiders own 15.70% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.