SkyView Investment Advisors LLC Increases Holdings in TrueCar, Inc. (NASDAQ:TRUE)

SkyView Investment Advisors LLC raised its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 34.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,185 shares of the technology company’s stock after acquiring an additional 51,723 shares during the period. SkyView Investment Advisors LLC owned about 0.22% of TrueCar worth $627,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TRUE. Mill Road Capital Management LLC raised its position in TrueCar by 5.3% in the 4th quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock worth $5,964,000 after purchasing an additional 86,100 shares during the period. Fairman Group LLC bought a new stake in shares of TrueCar in the 4th quarter valued at about $73,000. BNP Paribas Financial Markets boosted its holdings in TrueCar by 35.4% during the 1st quarter. BNP Paribas Financial Markets now owns 70,820 shares of the technology company’s stock valued at $240,000 after acquiring an additional 18,501 shares during the period. Russell Investments Group Ltd. grew its position in TrueCar by 29.1% during the 1st quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock worth $2,273,000 after acquiring an additional 151,115 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in TrueCar by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after purchasing an additional 41,592 shares during the period. 79.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TrueCar

In related news, EVP Jeff Swart sold 20,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total value of $56,400.00. Following the completion of the transaction, the executive vice president now directly owns 390,600 shares of the company’s stock, valued at $1,101,492. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRUE. Needham & Company LLC cut their target price on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a report on Tuesday, August 6th. BTIG Research raised shares of TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Wednesday, August 7th.

TrueCar Price Performance

TRUE opened at $3.37 on Friday. The firm has a market capitalization of $306.30 million, a price-to-earnings ratio of -8.42 and a beta of 1.84. TrueCar, Inc. has a one year low of $1.76 and a one year high of $4.05. The business has a 50 day simple moving average of $3.15 and a two-hundred day simple moving average of $3.10.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Monday, August 5th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $43.38 million. TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. As a group, sell-side analysts expect that TrueCar, Inc. will post -0.28 EPS for the current fiscal year.

TrueCar Company Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.