Maryland State Retirement & Pension System Sells 946 Shares of Cars.com Inc. (NYSE:CARS)

Maryland State Retirement & Pension System cut its holdings in Cars.com Inc. (NYSE:CARS) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,439 shares of the company’s stock after selling 946 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cars.com were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CARS. Vanguard Group Inc. boosted its stake in shares of Cars.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after purchasing an additional 81,645 shares in the last quarter. Greenvale Capital LLP boosted its position in Cars.com by 2.0% during the 4th quarter. Greenvale Capital LLP now owns 4,628,403 shares of the company’s stock valued at $87,801,000 after acquiring an additional 90,222 shares in the last quarter. Boston Partners raised its position in shares of Cars.com by 25.0% in the 1st quarter. Boston Partners now owns 2,153,942 shares of the company’s stock worth $36,972,000 after acquiring an additional 430,654 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Cars.com by 50.3% in the 1st quarter. Russell Investments Group Ltd. now owns 615,408 shares of the company’s stock worth $10,573,000 after acquiring an additional 205,871 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cars.com by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 596,327 shares of the company’s stock valued at $11,748,000 after purchasing an additional 20,463 shares during the period. 89.15% of the stock is owned by institutional investors.

Cars.com Stock Down 2.7 %

NYSE CARS opened at $17.35 on Wednesday. Cars.com Inc. has a 52 week low of $14.82 and a 52 week high of $21.24. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $1.15 billion, a P/E ratio of 11.05 and a beta of 2.21. The stock’s 50-day moving average price is $18.61 and its 200-day moving average price is $18.24.

Cars.com (NYSE:CARS) last released its earnings results on Thursday, August 8th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The firm had revenue of $178.89 million for the quarter, compared to the consensus estimate of $181.51 million. Cars.com had a return on equity of 6.70% and a net margin of 3.51%. On average, equities research analysts predict that Cars.com Inc. will post 1.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Thomas Alex Vetter sold 17,674 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $19.23, for a total value of $339,871.02. Following the transaction, the chief executive officer now directly owns 598,934 shares in the company, valued at $11,517,500.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a research report on Friday, August 23rd. JPMorgan Chase & Co. cut shares of Cars.com from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $19.00 in a report on Friday, August 9th. B. Riley lowered their target price on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, UBS Group cut their price target on Cars.com from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th.

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.