Cornerstone Investment Partners LLC Buys Shares of 6,298 CarGurus, Inc. $CARG

Cornerstone Investment Partners LLC purchased a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 6,298 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of CarGurus in the 2nd quarter worth approximately $27,000. Moody Aldrich Partners LLC grew its position in CarGurus by 25.7% during the second quarter. Moody Aldrich Partners LLC now owns 176,867 shares of the company’s stock valued at $5,920,000 after buying an additional 36,116 shares during the period. Atria Investments Inc increased its holdings in CarGurus by 9.7% during the second quarter. Atria Investments Inc now owns 9,165 shares of the company’s stock valued at $307,000 after buying an additional 809 shares during the last quarter. Bessemer Group Inc. raised its position in CarGurus by 6.2% in the second quarter. Bessemer Group Inc. now owns 777,062 shares of the company’s stock worth $26,008,000 after acquiring an additional 45,467 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in CarGurus by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 51,331 shares of the company’s stock worth $1,718,000 after acquiring an additional 2,702 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Down 2.7%

NASDAQ:CARG opened at $33.13 on Friday. The business’s 50-day simple moving average is $35.83 and its two-hundred day simple moving average is $33.25. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $41.33. The stock has a market cap of $3.29 billion, a PE ratio of 26.93, a P/E/G ratio of 1.62 and a beta of 1.50.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS. Q4 2025 guidance at 0.610-0.670 EPS. Sell-side analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CARG has been the subject of several analyst reports. Needham & Company LLC upped their price objective on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. UBS Group boosted their price target on CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Wall Street Zen cut CarGurus from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Gordon Haskett initiated coverage on CarGurus in a research note on Monday, July 14th. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, Citigroup lifted their price objective on CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.05.

Insider Activity

In other CarGurus news, insider Ismail Elshareef sold 1,228 shares of CarGurus stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.98, for a total value of $42,955.44. Following the sale, the insider directly owned 95,907 shares in the company, valued at approximately $3,354,826.86. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the transaction, the chief operating officer directly owned 410,259 shares of the company’s stock, valued at $14,350,859.82. This trade represents a 2.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,226 shares of company stock worth $1,471,482 over the last quarter. Insiders own 16.99% of the company’s stock.

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.