Cubist Systematic Strategies LLC Makes New Investment in Cars.com Inc. (NYSE:CARS)

Cubist Systematic Strategies LLC bought a new position in Cars.com Inc. (NYSE:CARS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 144,299 shares of the company’s stock, valued at approximately $2,843,000. Cubist Systematic Strategies LLC owned about 0.22% of Cars.com as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CARS. Texas Permanent School Fund Corp lifted its stake in Cars.com by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 53,906 shares of the company’s stock worth $926,000 after purchasing an additional 698 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Cars.com by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 13,307 shares of the company’s stock worth $229,000 after buying an additional 925 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Cars.com by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,832 shares of the company’s stock valued at $627,000 after buying an additional 1,101 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Cars.com by 0.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 487,540 shares of the company’s stock valued at $8,376,000 after buying an additional 1,427 shares during the last quarter. Finally, CWM LLC raised 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 acquiring an additional 1,575 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.

Cars.com Stock Up 0.4 %

CARS opened at $15.65 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.53. Cars.com Inc. has a 12 month low of $14.82 and a 12 month high of $21.24. The stock’s 50 day moving average price is $17.30 and its 200 day moving average price is $18.07. The stock has a market cap of $1.03 billion, a P/E ratio of 42.19 and a beta of 2.11.

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

Analysts Set New Price Targets

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

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.