Fmr LLC Raises Stock Position in Cars.com Inc. (NYSE:CARS)

Fmr LLC raised its position in Cars.com Inc. (NYSE:CARS) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,902,561 shares of the company’s stock after purchasing an additional 162,692 shares during the quarter. Fmr LLC owned about 0.15% of Cars.com worth $165,967,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CARS. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cars.com during the 2nd quarter worth $38,000. CWM LLC boosted its stake in Cars.com by 253.2% during the second quarter. CWM LLC now owns 2,197 shares of the company’s stock worth $43,000 after buying an additional 1,575 shares during the period. Advisors Asset Management Inc. increased its position in shares of Cars.com by 145.2% during the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock valued at $53,000 after acquiring an additional 1,864 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Cars.com in the 2nd quarter valued at approximately $180,000. Finally, MQS Management LLC acquired a new position in shares of Cars.com in the 3rd quarter worth approximately $171,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Trading Down 0.1 %

NYSE:CARS opened at $19.94 on Wednesday. Cars.com Inc. has a 12-month low of $15.05 and a 12-month high of $21.24. The firm has a market cap of $1.29 billion, a PE ratio of 34.38 and a beta of 2.12. 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 stock has a fifty day moving average price of $17.18 and a 200 day moving average price of $18.20.

Wall Street Analyst Weigh In

CARS has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a report on Wednesday, November 13th. UBS Group raised their target price on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, B. Riley cut their price target on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Insider Buying and Selling at Cars.com

In related news, CFO Sonia Jain sold 24,971 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total transaction of $492,927.54. Following the sale, the chief financial officer now directly owns 229,229 shares in the company, valued at approximately $4,524,980.46. This represents a 9.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jill A. Greenthal sold 4,524 shares of Cars.com stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the transaction, the director now owns 101,963 shares of the company’s stock, valued at $2,024,985.18. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is owned by corporate insiders.

Cars.com Company 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.