Cars.com Inc. (NYSE:CARS) Stake Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in shares of Cars.com Inc. (NYSE:CARS) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,400 shares of the company’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cars.com were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CARS. Price T Rowe Associates Inc. MD boosted its position in Cars.com by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,013 shares of the company’s stock worth $757,000 after acquiring an additional 2,692 shares during the period. American Century Companies Inc. boosted its position in Cars.com by 19.4% during the 2nd quarter. American Century Companies Inc. now owns 1,078,757 shares of the company’s stock worth $21,252,000 after acquiring an additional 175,094 shares during the period. Vanguard Group Inc. boosted its position in Cars.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock worth $123,983,000 after acquiring an additional 81,645 shares during the period. CWM LLC boosted its position in Cars.com by 253.2% during the 2nd quarter. CWM LLC now owns 2,197 shares of the company’s stock worth $43,000 after acquiring an additional 1,575 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Cars.com by 23.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 526,643 shares of the company’s stock worth $10,375,000 after acquiring an additional 101,000 shares during the period. 89.15% of the stock is currently owned by institutional investors.

Cars.com Stock Performance

Shares of NYSE CARS opened at $16.06 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 43.41 and a beta of 2.10. The business’s 50-day simple moving average is $16.63 and its 200-day simple moving average is $17.97. Cars.com Inc. has a 52 week low of $15.05 and a 52 week high of $21.24.

Cars.com (NYSE:CARS) last announced its earnings results on Thursday, August 8th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Cars.com had a net margin of 3.51% and a return on equity of 6.70%. The business had revenue of $178.89 million for the quarter, compared to the consensus estimate of $181.51 million. As a group, equities research analysts expect that Cars.com Inc. will post 1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CARS shares. UBS Group cut their price objective on Cars.com from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a report on Monday. B. Riley cut their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered Cars.com from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $19.00 in a report on Friday, August 9th.

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.