LSV Asset Management Purchases New Stake in Cars.com Inc. (NYSE:CARS)

LSV Asset Management acquired a new stake in shares of Cars.com Inc. (NYSE:CARS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,800 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Cars.com during the fourth quarter worth about $226,000. Capula Management Ltd bought a new position in Cars.com during the 4th quarter worth approximately $289,000. Renaissance Technologies LLC grew its position in shares of Cars.com by 20.0% in the 4th quarter. Renaissance Technologies LLC now owns 782,425 shares of the company’s stock worth $13,559,000 after acquiring an additional 130,325 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Cars.com by 17.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 351,438 shares of the company’s stock valued at $6,090,000 after acquiring an additional 51,933 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Cars.com by 26.4% during the fourth quarter. Wells Fargo & Company MN now owns 39,423 shares of the company’s stock worth $683,000 after purchasing an additional 8,237 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Cars.com from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on Cars.com from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a report on Tuesday, March 4th. Finally, DA Davidson lowered their target price on Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cars.com presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Cars.com Trading Up 0.1 %

NYSE:CARS opened at $11.27 on Wednesday. The stock has a fifty day simple moving average of $13.06 and a 200 day simple moving average of $15.97. The firm has a market capitalization of $719.24 million, a price-to-earnings ratio of 19.42 and a beta of 1.92. Cars.com Inc. has a 1-year low of $9.87 and a 1-year high of $21.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

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.