ArrowMark Colorado Holdings LLC Sells 40,000 Shares of Cars.com Inc. (NYSE:CARS)

ArrowMark Colorado Holdings LLC cut its stake in shares of Cars.com Inc. (NYSE:CARS) by 7.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 521,000 shares of the company’s stock after selling 40,000 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Cars.com were worth $8,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cars.com during the 2nd quarter valued at $38,000. CWM LLC raised its position in Cars.com by 253.2% during the second quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after purchasing an additional 1,575 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Cars.com by 145.2% during the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after purchasing an additional 1,864 shares during the last quarter. MQS Management LLC purchased a new position in shares of Cars.com in the 3rd quarter worth about $171,000. Finally, Point72 DIFC Ltd bought a new position in shares of Cars.com during the 2nd quarter valued at about $180,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Insider Activity at Cars.com

In other Cars.com news, CFO Sonia Jain sold 24,971 shares of Cars.com stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total value of $492,927.54. Following the completion of the sale, the chief financial officer now owns 229,229 shares of the company’s stock, valued at approximately $4,524,980.46. This trade represents a 9.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jill A. Greenthal sold 4,524 shares of Cars.com stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the sale, the director now directly owns 101,963 shares of the company’s stock, valued at approximately $2,024,985.18. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARS. Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Wednesday, November 13th. UBS Group upped their price objective on shares of Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley lowered their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their target price on Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th.

Cars.com Stock Performance

Cars.com stock opened at $19.96 on Tuesday. Cars.com Inc. has a fifty-two week low of $15.05 and a fifty-two week high of $21.24. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 34.41 and a beta of 2.10. The stock’s 50 day simple moving average is $17.13 and its two-hundred day simple moving average is $18.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79.

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.