CarGurus, Inc. (NASDAQ:CARG) Stake Raised by Prevatt Capital Ltd

Prevatt Capital Ltd boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,350,000 shares of the company’s stock after buying an additional 120,000 shares during the period. CarGurus makes up approximately 14.2% of Prevatt Capital Ltd’s investment portfolio, making the stock its largest holding. Prevatt Capital Ltd owned 1.30% of CarGurus worth $49,329,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CARG. Global Retirement Partners LLC lifted its holdings in CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 532 shares during the period. Fifth Third Bancorp lifted its holdings in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after acquiring an additional 456 shares during the period. Principal Securities Inc. lifted its holdings in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after acquiring an additional 424 shares during the period. USA Financial Formulas acquired a new position in CarGurus in the fourth quarter valued at approximately $35,000. Finally, GeoWealth Management LLC acquired a new position in CarGurus in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

NASDAQ CARG opened at $33.64 on Thursday. The business has a fifty day moving average price of $28.83 and a 200 day moving average price of $33.75. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The company has a market cap of $3.51 billion, a P/E ratio of 186.90, a P/E/G ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same period in the prior year, the company earned $0.32 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CARG has been the subject of a number of analyst reports. UBS Group boosted their price target on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Oppenheimer reduced their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JMP Securities reduced their target price on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of CarGurus in a research note on Monday. Finally, Needham & Company LLC reduced their target price on CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.95.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the company’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the sale, the chief executive officer now directly owns 129,790 shares in the company, valued at $3,469,286.70. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the sale, the chief operating officer now owns 390,025 shares of the company’s stock, valued at approximately $12,004,969.50. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock worth $907,856 in the last three months. 16.99% of the stock is owned by corporate insiders.

CarGurus Company Profile

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.