Assetmark Inc. Boosts Holdings in Cars.com Inc. (NYSE:CARS)

Assetmark Inc. grew its stake in shares of Cars.com Inc. (NYSE:CARS) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,410 shares of the company’s stock after purchasing an additional 5,461 shares during the period. Assetmark Inc.’s holdings in Cars.com were worth $912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in shares of Cars.com by 18.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,909 shares of the company’s stock valued at $216,000 after acquiring an additional 2,047 shares during the last quarter. Joel Isaacson & Co. LLC bought a new position in shares of Cars.com in the third quarter worth $448,000. Hennion & Walsh Asset Management Inc. bought a new position in Cars.com during the third quarter valued at about $191,000. Inspire Investing LLC boosted its position in shares of Cars.com by 38.5% in the 3rd quarter. Inspire Investing LLC now owns 24,474 shares of the company’s stock valued at $410,000 after purchasing an additional 6,809 shares during the period. Finally, CWM LLC lifted its stake in Cars.com by 62.4% in the 3rd quarter. CWM LLC now owns 3,569 shares of the company’s stock worth $60,000 after acquiring an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.

Wall Street Analyst Weigh In

CARS has been the topic of a number of analyst reports. UBS Group increased their price objective on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 8th. B. Riley cut their price target on Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, November 8th.

Cars.com Stock Performance

Shares of CARS opened at $18.72 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. Cars.com Inc. has a one year low of $15.05 and a one year high of $21.24. The company has a 50-day simple moving average of $16.75 and a two-hundred day simple moving average of $18.04. The firm has a market capitalization of $1.21 billion, a PE ratio of 32.09 and a beta of 2.10.

Cars.com 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.