BNP Paribas Financial Markets Grows Position in Cars.com Inc. (NYSE:CARS)

BNP Paribas Financial Markets increased its holdings in shares of Cars.com Inc. (NYSE:CARS) by 8.0% in the third quarter, Holdings Channel reports. The firm owned 14,541 shares of the company’s stock after buying an additional 1,075 shares during the period. BNP Paribas Financial Markets’ holdings in Cars.com were worth $244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARS. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cars.com during the second quarter valued at about $38,000. CWM LLC boosted its position in shares of 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 purchasing an additional 1,575 shares during the period. Advisors Asset Management Inc. increased its holdings in Cars.com by 145.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock valued at $53,000 after purchasing an additional 1,864 shares during the last quarter. MQS Management LLC purchased a new stake in Cars.com in the third quarter valued at approximately $171,000. Finally, Point72 DIFC Ltd acquired a new position in Cars.com during the second quarter worth $180,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cars.com

In other news, CFO Sonia Jain sold 24,971 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total value 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 trade represents a 9.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jill A. Greenthal sold 4,524 shares of the business’s stock in a transaction 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 transaction, the director now owns 101,963 shares of the company’s stock, valued at approximately $2,024,985.18. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by company insiders.

Cars.com Stock Performance

NYSE:CARS opened at $18.70 on Tuesday. Cars.com Inc. has a 52 week low of $15.05 and a 52 week high of $21.24. The company has a fifty day simple moving average of $17.69 and a two-hundred day simple moving average of $18.22. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 32.24 and a beta of 2.12.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CARS shares. JPMorgan Chase & Co. lifted their price objective on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. 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, Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Wednesday, November 13th.

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.