LSV Asset Management Raises Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

LSV Asset Management boosted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 4.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,700 shares of the company’s stock after purchasing an additional 2,700 shares during the period. LSV Asset Management’s holdings in CarGurus were worth $1,564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prevatt Capital Ltd acquired a new stake in CarGurus during the fourth quarter valued at approximately $24,160,000. Pale Fire Capital SE acquired a new stake in CarGurus during the fourth quarter valued at approximately $1,800,000. UniSuper Management Pty Ltd acquired a new stake in CarGurus during the first quarter valued at approximately $483,000. Capstone Investment Advisors LLC acquired a new stake in CarGurus during the first quarter valued at approximately $1,315,000. Finally, Jennison Associates LLC acquired a new stake in CarGurus during the first quarter valued at approximately $707,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the topic of several research reports. DA Davidson restated a “neutral” rating and set a $26.50 price objective on shares of CarGurus in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Oppenheimer increased their price target on CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. B. Riley increased their price target on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.35.

CarGurus Price Performance

Shares of CARG stock opened at $28.42 on Friday. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $29.40. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 101.50, a price-to-earnings-growth ratio of 1.32 and a beta of 1.56. The business has a 50 day simple moving average of $26.36 and a 200 day simple moving average of $24.58.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The business had revenue of $218.69 million during the quarter, compared to analyst estimates of $214.85 million. On average, equities analysts anticipate that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total transaction of $99,091.98. Following the completion of the transaction, the chief technology officer now directly owns 217,374 shares of the company’s stock, valued at approximately $5,414,786.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the transaction, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Matthew Todd Quinn sold 3,978 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total value of $99,091.98. Following the transaction, the chief technology officer now directly owns 217,374 shares of the company’s stock, valued at $5,414,786.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,421 shares of company stock valued at $1,567,354. 17.20% of the stock is owned by corporate insiders.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.