Man Group plc Reduces Holdings in CarGurus, Inc. (NASDAQ:CARG)

Man Group plc decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 12.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 218,226 shares of the company’s stock after selling 30,667 shares during the period. Man Group plc’s holdings in CarGurus were worth $7,974,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Global Retirement Partners LLC grew its stake in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the period. GeoWealth Management LLC acquired a new stake in shares of CarGurus during the fourth quarter worth about $49,000. Finally, R Squared Ltd acquired a new stake in shares of CarGurus during the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Trading Down 1.3%

Shares of NASDAQ:CARG opened at $32.03 on Tuesday. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The company has a market capitalization of $3.34 billion, a PE ratio of 177.95, a PEG ratio of 1.72 and a beta of 1.45. The business has a 50 day moving average of $28.91 and a two-hundred day moving average of $33.81.

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

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction 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 approximately $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the sale, the chief operating officer now owns 503,382 shares of the company’s stock, valued at $13,510,772.88. The trade was a 1.95% 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 valued at $907,856 in the last three months. 16.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. UBS Group lifted their target price on CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. JMP Securities decreased their target price on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Finally, Needham & Company LLC decreased their target price on CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.95.

CarGurus 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.