Renaissance Technologies LLC Increases Position in Cars.com Inc. (NYSE:CARS)

Renaissance Technologies LLC boosted its position in Cars.com Inc. (NYSE:CARS) by 20.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 782,425 shares of the company’s stock after acquiring an additional 130,325 shares during the period. Renaissance Technologies LLC owned about 1.21% of Cars.com worth $13,559,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Cars.com by 0.4% during the fourth quarter. JPMorgan Chase & Co. now owns 236,850 shares of the company’s stock worth $4,105,000 after purchasing an additional 827 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Cars.com by 8.0% during the third quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company’s stock worth $244,000 after buying an additional 1,075 shares during the period. Smartleaf Asset Management LLC boosted its stake in Cars.com by 193.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock worth $29,000 after buying an additional 1,079 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Cars.com by 41.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock valued at $89,000 after buying an additional 1,516 shares during the period. Finally, KBC Group NV increased its stake in shares of Cars.com by 68.2% during the 4th quarter. KBC Group NV now owns 3,885 shares of the company’s stock valued at $67,000 after acquiring an additional 1,575 shares during the last quarter. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cars.com Stock Performance

Shares of CARS stock opened at $11.25 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The company has a market cap of $718.28 million, a PE ratio of 19.40 and a beta of 1.92. The company’s fifty day simple moving average is $13.19 and its 200-day simple moving average is $16.00. Cars.com Inc. has a 52 week low of $9.87 and a 52 week high of $21.24.

About Cars.com

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.