The Manufacturers Life Insurance Company Buys 1,101 Shares of Cars.com Inc. (NYSE:CARS)

The Manufacturers Life Insurance Company grew its position in shares of Cars.com Inc. (NYSE:CARS) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,832 shares of the company’s stock after purchasing an additional 1,101 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cars.com were worth $627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Cars.com during the first quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cars.com in the 2nd quarter worth about $38,000. CWM LLC lifted its stake in shares of Cars.com by 253.2% in the 2nd quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after purchasing an additional 1,575 shares during the period. EntryPoint Capital LLC boosted its position in shares of Cars.com by 23.3% during the 1st quarter. EntryPoint Capital LLC now owns 10,173 shares of the company’s stock valued at $175,000 after purchasing an additional 1,922 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of Cars.com during the 1st quarter valued at about $177,000. Institutional investors and hedge funds own 89.15% of the company’s stock.

Cars.com Trading Down 0.1 %

NYSE CARS opened at $15.88 on Wednesday. Cars.com Inc. has a 52 week low of $14.82 and a 52 week high of $21.24. The business has a 50 day moving average price of $17.14 and a 200-day moving average price of $18.06. 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 cap of $1.05 billion, a price-to-earnings ratio of 10.11 and a beta of 2.11.

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

Wall Street Analyst Weigh In

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

Cars.com Company 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.